First round of Exxon payments ordered

Anchorage Daily News ^ | 11-24-08 | AP

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First round of Exxon payments ordered

The Associated Press

Published: November 24th, 2008 04:06 PM Last Modified: November 24th, 2008 04:06 PM

A judge has ordered the first round of punitive damages be issued to plaintiffs in the nation's worst oil spill.

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A federal judge in Anchorage on Monday ordered the release of $151 million to thousands of Alaska fisherman and other claimants. Plaintiffs attorney Andrew Ott says he's hopeful people should receive that money some time next week.

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Under the deal, the money will be distributed to nearly 33,000 commercial fishermen and others who sued Exxon after the 1989 spill of 11 million gallons of crude in Prince William Sound.

[PAR35]

Sounds like “Plaintiffs attorney Andrew Ott” is due for a happy holiday.

[Repeal The 17th]

$151 million / 33,000 “commercial fishermen and others” = $4,575.76 each

[Libertarian444]

Lawyers in the Exxon Valdez case earlier negotiated a settlement, under which about $383 million will be released by Exxon.

..and how much will be "released" to plaintiff's "counsel"?

[Ingtar]

Probably less than half of that after the attorneys get their cut.

[hoosiermama]

Just talked with my son, who fished in Alaska during the detruction of the fishing industry.....barely made enough in the summer to pay for his plane ticket. He expects to receive $0. But maybe the family he worked for will get enough to pay for kids education, so the next generation will be able to make a living....They sure can’t in fishing.

[Syncro]

How about some interest since 1989, say at about 10%?

Fifteen million a year if that amount isn't added on each year and the interest figured again each year that would make it about 466 million.

[blu]

This is the first payout. This looks to be about a third of the total payout. Hey, where IS the interest????

[Auntie Mame]

Hey, where IS the interest????

You're funny. It's a settlement, not a bank account.