The headlines, they be a coming…fast and furious out of the Gulf these days, especially in regard to pending litigation when it comes to that pesky MDL…

Back on December 28th, Judge Carl Barbier issued a ruling which required 4% of any settlement with BP or the GCCF to be deposited into a fund, which would then be used to pay attorneys in the plaintiff steering committee. This ruling set off a firestorm of complaints…from claimants involved with the GCCF to politicians concerned about the impact on coastal recovery funds to Louisiana’s very own Attorney General, Buddy Caldwell, who quickly staked out this position regarding said ruling:

“…Setting aside 4 percent of legal settlements could put money for the state’s environmental and economic recovery at risk, forcing the state to dip into its treasury to meet federal match requirements for environmental restoration projects. He also argued that diverting money from ecological projects to pay attorneys could violate federal environmental laws. He further said that forcing the state to work through the plaintiffs committee trampled on state sovereignty and could violate Louisiana’s ban on paying contingency fees to outside attorneys…”

But…faster than one can say personal integrity, Caldwell recently switched positions this past Tuesday, saying he now:

“…would support holding back 4 percent of state financial recoveries from the Gulf of Mexico oil disaster to fund the work of the committee of plaintiff attorneys at the helm of the litigation.”

And though his office would give no official explanation for why he switched, it has been noted that now…

“Caldwell will also assume a new higher-profile role in the consolidated litigation over the oil spill, and will join Alabama Attorney General Luther Strange as co-coordinating counsel for state interests.

Nice…is it just me, or is there an undeclared competition occurring in the Gulf between the various oil companies, judges, politicians, governmental agencies, attorneys and Feinbergs to see who can be the most vilified? Or are they just taking turns at this? Seems so…

Anywhoo, the headlines keep coming…

Morgan Stanley said today that British Petroleum may reach a settlement with United States for as much as $25 billion dollars from the Deepwater Horizon catastraphuk. This settlement would include civil charges, criminal penalties and fines under the Clean Water Act. On February 7th, BP will announce its fourth quarter profits and it is expected the settlement will occur shortly thereafter…yes, yes, yes…both British Petroleum and the Department of Justice appear to be weighing the odds of actually going to court and the risks involved, figuring that a quick settlement may be the safest bet…for them.

And still more…

Back at the MDL, Judge Barbier, continuing to make things up as he goes, has now decided the people settling with the GCCF will not have to set aside 6% of their settlement for the plaintiff steering committee fund. Originally, Barbier felt that this street gang of politically connected attorneys had done so much to help Feinberg’s GCCF process, they deserved a cut of the action, but apparently he took another look and realized that really, they hadn’t done shit, so they’re out of the claimants pockets…unless, the claimant was going for the best of both worlds by filing short forms in the legal process while also exploring their settlement options with the GCCF…they still gotta pay that 6%, even if they ultimately decide to take an offer from Feinberg.

But…stay tuned until next week to see if Barbier changes his mind again…

It could, and probably will happen…

Ahh….such is life in the Gulf…

Have a nice day.