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FBN’s Judge Andrew Napolitano on the negotiations to potentially settle BP’s case out of court.
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-- might DVDs magic number then that is what is left of the company's twenty billion dollar claims whenever that.
It is reportedly trying to see if the money over to the point is avoid drug called today that's it to -- is -- -- on on whether that could actually work.
-- -- Well it could work of a federal judge approves -- why do you want a federal judge to approve of because you need an intermediary.
Between BP and the plaintiffs' lawyers there are 12100 plaintiffs there -- 340 lawyers representing them.
They're looking for about thirty billion.
And as we now know there's fourteen billion left in the fund.
There are however other defendants who've been added to the case remember somebody design and somebody built this thing.
And someone management and someone maintained -- before BP took over took over in talking about the range right around exploded so there is enough money -- the question is who's gonna divvied up and how's it gonna be divided.
Here's what everybody agreed to everybody read it all these cases will be tried at one time in one forum before one judge without a jury.
The judge on a Sunday night.
The judges don't work on Sunday -- this -- on -- Sunday night.
Something noticed everybody's saying the -- not gonna start to tomorrow which was supposed to be this morning because I have reasonable leave their pretty close to settlement.
This will save millions and millions in legal fees on both sides this -- and -- here and it's our view.
To be I mean would -- -- You know obviously -- gap between the fourteen and thirty billion to -- -- -- it what are we talking.
Well I don't know what the number would be deferred judge to come to this conclusion on the Sunday night before the Monday morning in -- a trial of this magnitude is to Begin.
Means that the lawyers have said we are X dollars apart whatever -- X dollars is made sense to the judge did you actually sense to you as a judge -- yourself on the you keep that title which I admire but a patent act act does it make sense to -- that.
The fourteen billion dollars that they didn't spend that.
That that is part of the money in this equation yes it does for a couple of reasons the the 580000.
People.
Who shared the six billion of the two money that's been divided already cannot sue in this losses.
You accept money from Ken Feinberg who administer the fund you give up your right to sue.
So it's different people that aren't silly.
The fourteen billion into the little bit of getting six minute they can't be part of that's correct correct -- had to give up their right to sue and her to get that six.
The fourteen billion has been sitting in a bank account it's BP's money the bank -- it's controlled by Feinberg.
But the -- doesn't belong to the federal government that slow for you to get that money out -- -- fourteen billion still not out.
And understand -- it is isn't unusual that much is still out there yes it is very usual that much will be set aside where the twenty billion come from.
Your favorite vice president Joseph Biden suggested went to cough up twenty billion by the way you know twelve about we'll take it from.
Totally outside the constitution BP said here take a twenty billion and leave us alone.
Now they're back in court again that would be a big -- -- deal if they got -- I saw you quote yeah.
But still.
