The Vultures Begin To Gather

They say sharks can sense blood in the water at great distances, indicating probable crippled and easy prey. It seems lawyers and law firms react the same way to oil in the water. The following response to the recent oil spill disaster in the Gulf of Mexico is illustrative of the motivation behind the legal action......money. The name of the game is make all you can, as fast as you can, economy be damned. Please don't tell us it will help the "environment" in any meaningful way.
Pete

Wednesday, May 5, 2010, 1:04pm CDT

Dallas lawyers prep for oil spill cases

Dallas Business Journal - by Kerri Panchuk Web Reporter

Law firm Baron & Budd said Wednesday it is pulling together an experienced environmental legal team to prep for lawsuits tied to the Gulf Coast oil spill.

One of their first priorities is getting Congress to review a previously passed legislative act that caps punitive damages in offshore pollution cases to $75 million, according to attorney Burton LeBlanc, a Baron & Budd attorney working the oil spill cases.

LeBlanc said lawsuits have already been filed on behalf of a marina and a group of commercial fishermen working off the Gulf Coast. Attorneys are already looking for ways to push the damages cap above $75 million. LeBlanc said a bill was introduced on the House floor this week to try to lift the damages cap to $10 billion.

The Dallas firm has a three-decade track record that includes claims against one of the chief parties in the Gulf Oil spill case: BP.

LeBlanc said Wednesday, “We are evaluating the spill itself, and the potential damages and economic loss to various constituencies.”

The damages could extend beyond clients who make their living on the water, he said. In addition to fisherman and marinas, he said the firm has also been talking to condo owners, hotels and hospitality outlets.

At this point, he said damage estimates are impossible to assess.

“I am hopeful this cap they are trying to put on the well tomorrow will be effective,” he said. “But right now, it’s spilling oil. I think potentially this could be the most dramatic case in the history of the United States.”

kerripanchuk@bizjournals.com