Do you think BP will pay victims forever without court orders?

[Junkdrawer]

I don't. I think that by this fall, assuming that the gusher is stopped by then, BP (or whomever buys out BP) will assert its rights to their day in court and refuse to payout damages until ordered by a court. And that's why the money is in ESCROW. Escrow is like having a third party hold money on a bet - it doesn't mean one side or another automatically gets the money.

For the time being, BP is paying modest amounts of money with relatively few strings attached. If and when the oil stops gushing, that will change.

[OHdem10]

1. They cannot pay the victims forever. At a reasonable point any

court will say that is it. You have now had time to find
a new way of making a living. Not one of us is guaranteed
a life style. I moved 13 times in my life in order to
sustain a quality of life.

[Statistical]

2. Well technically nobody ever pays victims forever.

Generally speaking any loss can be quantified to a present value.

Still I think you are right once the well is capped and worst and most obvious damage gone BP will start playing harder and harder ball.

Out of sight, out of mind.

[zipplewrath]

3. With out a doubt

It's part of the reason that this money is a good deal. It can start to flow out alot sooner than any court settlements would provide.

Laws on the books already have provisions that make BP liable for certain expenses. To some extent BP has an interest in paying, and paying quickly. This fund could also take alot of "class" out of a class action lawsuit since many would have already been compensated. And don't think BP didn't arrange to get VERY specific details on who gets what money.

But there will come a time, probably not to long in the future, when BP will start to "question" the legitimacy of claims and start to drag its heels even more.

[Toucano]

4. Wait a minute.

I thought they agreed to deposit $20B in an escrow fund.

BP will not be paying victims, the fund will.

Unless I missed something.

[OHdem10]

6. That money will not last forever, when divided between all the

affected states.

The post said "pay victims forever".

[Junkdrawer]

7. What Does The BP "Escrow" Deal Really Mean?

...

There is very little other information about how claims will be processed. There will have to be determinations made as to what, in the parlance of both BP and President Obama, is a "legitimate" claim. While Obama stated that anyone can file a claim, that doesn’t mean that the claim will be accepted or paid. Nor does it appear that the decision-making process will include any of the affected Gulf coast residents or their representatives from the fishers, shrimpers, crabbers, unions, small business people and workers in the tourism and recreation industry, local elected officials, clergy, and independent scientists and environmentalists.

Details must be forthcoming about claims payments and standards. Can we expect tens of thousands of people to receive checks by the end of the month? One thing is clear: The limited level of the fund necessarily means that claims cannot be paid equivalent to the damages incurred right now.

....

http://beforeitsnews.com/news/80/901/What_Does_The_BP_Escrow_Deal_Really_Mean.html

[jp11]

5. No.

I think the only thing ordered by a court that pays out 'forever' is alimony, if the receiver doesn't remarry, but I could be wrong.

Anyway BP won't payout forever at best the people affected could get a few years of compensation, a study on the environmental impact and wildlife effect/population over time could be useful in extending the payments but I'd think BP would try to settle and instead of pay X every year pay less than X * Y years now. The key is the legitimate thing they keep tossing out, at some point legitimate is going to take a harder more conservative meaning which is when litigation ensues.