Saturday, December 6, 2008

Exxon Makes First Payments to Valdez Spill Plaintiffs

Article in the L.A. Times -- Exxon Valdez victims receive first payments, by Kim Murphy.  (H/t to Torts Prof Blog.)  Here's an excerpt:

Reporting from Cordova, Alaska -- A little less than 20 years ago, Mike Webber was king of his own watery world. He was 28 years old, with three herring fishing boats. He leased another long-line boat for halibut, and gill-netted the fat salmon that made Prince William Sound one of the most legendary fisheries in the world.

Then came the 1989 Exxon Valdez oil spill. Overnight, it was all gone: Fish prices plummeted. People started selling their fishing permits to pay their mortgages, and then lost their houses anyway. Salmon rebounded, but the $12-million-a-year herring fishery all but disappeared.

On Friday, Webber and more than 200 other residents of this rain-soaked fishing town began getting the first round of punitive damage payments from ExxonMobil, closing the book on one of the nation's most epic battles over environmental destruction and corporate responsibility.

BGS

http://lawprofessors.typepad.com/mass_tort_litigation/2008/12/exxon-makes-fir.html

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