NewsHour Segment: Can Obama Require BP to Form an Escrow Fund?
Steve Yerrid, a Florida trial lawyers, and I discuss this with Ray Suarez on the NewsHour. Bottom line: the answer isn’t very clear, although OPA sec. 1005(a) does require BP to establish a process for “the payment or settlement of claims for interim, short-term damages” that might encompass an escrow and independent decision-makers. It will be interesting to see what kind of legal argument the Administration is able to put together in support of their power to mandate an escrow fund.
Dan Farber has written and taught on environmental and constitutional law as well as about contracts, jurisprudence and legislation. Currently at Berkeley Law, he has al…READ more