In early July 2015, BP announced that the company had reached settlements with 400+ local governments, including municipalities, counties, school boards, tax collectors and other similar entities. BP will pay these governments a combined $1 billion (with billions more going to the state governments of Florida, Alabama, Mississippi, Louisiana and Texas). The funds will be disbursed by no later than mid-September 2015.
The Law office of Thomas L. Young, in conjunction with our co-counsel law firm Motley Rice, represented many of these local governments, from large counties in Florida to small beachfront municipalities. We believe these settlements are in the best interest of taxpayers, as resolution of these lawsuits will avoid years – perhaps decades – of litigation, not to mention uncertainty. One need look no further than the Exxon Valdez disaster where various trials and appeals took over 25 years to resolve.