Schexnaydre Law Firm, LLC

Judge Barbier Denies BP's Emergency Motion for Injunction

By David Schexnaydre, Esq.

Well, as I and many others predicted, Judge Barbier, for a third time, rejected BP's arguments that the Claims Administrator, Patrick Juneau, is improperly approving and paying Business Economic Loss claims for certain industries.  It is nice to have a consistent judge, but it seems his patience may be wearing thin, at least according to reports that he made a comment that he does not know what he has to do to put this issue to rest.  In my opinion, this comment bodes well for Business Economic Claimants whose claims are appealed by BP on these same grounds.  It seems to me any appeals by BP based on these same tired and rejected arguments are sure to be defeated.  Even if the arbitrator appointed to a particular appeal rules in BP's favor, the claimant can appeal to Judge Barbier, per the terms of the Settlement Agreement, and seek relief. 

Another observation I had regarding BP's position is they appear to be unwittingly building a record that will come back to haunt them in what I believe will be a future shareholder derivative claim based on BP's gross miscalculation of the financial impact of the Settlement Agreement.  (There is already a shareholder derivative action based on BP's alleged mishandled response to the spill itself.) BP's position regarding Mr. Juneau's interpretation of the Settlement Agreement is that the interpretation is resulting in payment of "fictitious losses" to certain Business Economic Loss claimants.  Well, if, in fact, the Settlement Agreement is being interpreted precisely according to its own terms, which I and many others (and apparently Judge Barbier) believe it is, then BP has just judicially admitted that it, along with its cadre of Ivy League accountants and lawyers, agreed to pay for "fictitious losses." That cannot sit well with BP's shareholders, especially if BP ultimately must pay out billions of dollars more than the estimated $7.8 billion settlement.

We have only a year left to submit claims under the BP Settlement Agreement. So, I encourage every non-excluded business in the entire states of Louisiana, Mississippi, Alabama, three coastal counties in Texas, and the Gulf Coast counties in Florida to contact their lawyers, CPAs, or other approved claims professionals and submit their claims.  If any of those businesses don't already have such guidance, they can contact the lawyers at Pajares & Schexnaydre and we will help them through the process. There are plenty enough claims to go around, so good luck to all of you!

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