Richard Arsenault Appears in Wall Street Journal on Gulf Oil Spill Fund

Gulf Oil Spill Fund

Senior partner in Neblett, Beard & Arsenault, was quoted in the Wall Street Journal today and appeared in the Wall Street Journal’s Law Blog over plans to seek compensation for victims of the Gulf of Mexico Oil Spill from the $20 billion oil spill fund, rather than proceeding with potentially lengthy litigation against BP and other parties.

A partners in his law firm, are among a group of approximately 30 lawyers who are moving their clients’ claims through the oil spill fund.

“Justice delayed is justice denied,” Attorney told the Journal’s Dionne Searcy.
The fund, which is administered by Ken Fienberg , and was set up by BP and the Obama administration, has already paid out $3.35 billion dollars to victims of the spill.

Victims of the oil spill are now deciding whether to opt for potentially quicker compensation through the oil spill fund, or to take their claims through the court system. Victims who seek compensation through the oil spill fund will be barred from filing a lawsuit, and may forfeit future damages that may be awarded by a court.

For many victims, waiting for a courtroom decision may not be possible. Daniel Becnel, a lawyer in Arsenault’s group, explained that many victims need compensation now to avert financial ruin and may not be capable of waiting for a result through litigation.

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