DOCSLIB.ORG

Compensation for Economic Loss Following an Oil Spill Incident: Building a New Framework for Thailand

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Compensation for Economic Loss Following an Oil Spill Incident: Building a New Framework for Thailand Compensation for Economic Loss Following an Oil Spill Incident: Building a New Framework for Thailand Tidarat Sinlapariromsuk A dissertation submitted in partial fulfillment of the requirements for the degree of Doctor of Philosophy University of Washington 2017 Reading Committee: Donsheng Zang, Chair William Rodgers Sanne Knudsen Usha Varanasi Program Authorized to Offer Degree: School of Law © Copyright 2017 Tidarat Sinlapapiromsuk University of Washington Abstract Compensation for Economic Loss Following an Oil Spill Incident: Building a New Framework for Thailand Tidarat Sinlapapiromsuk Chair of the Supervisory Committee: Associate Professor of Law Dongsheng Zang School of Law The Rayong Oil Spill of 2013 presents a useful example of the catastrophic consequences of a large oil spill in Thailand, consequences that can provide meaningful lessons for industry and government. Many local residents and businesses throughout the coastal communities in Rayong suffered economic loss largely due to damages to natural resources; however, under the existing legal regime, there is no effective comprehensive legal framework that directly and adequately regulates the compensation regimes that handle claims of economic-loss following an oil-spill incident. Equally, as an alternative to litigation, there is no adequate guidance for the regimes handling rapid compensation payments for such type of claims. In the aftermath of the Rayong Spill, the responsible bodies developed the out-of-court compensation program on the fly, struggling to find a proper way to respond to this unprecedented disaster—yet this response was so haphazard that it left some claimants without clear rights to compensation, or, conceivably, it even left them with unfair levels of compensation. This study examines and evaluates the limits and potential advantages of the U.S. Oil Pollution Act 1990 and the systems used by the Gulf Coast Claims Facility in order to identify and adapt a new, comprehensive legal framework for setting up a claims facility to handle oil-spill compensation payments in Thailand. With the Thai context in mind and in light of the U.S. approach, this study recommends a framework that (1) includes a statutory duty to establish a claims facility for oil spill compensation; (2) identifies a responsible agency to designate the responsible party; and (3) explicitly recognizes economic losses caused by an oil-spill regardless of ownership rights. Given the problem of transparency in Thailand, this dissertation also recommends creating a neutral body to supervise the compensation regime. It also makes concrete suggestions for how to design these future claims facilities to better respond to economic losses caused by oil spill incidents, including a structure that entails different phases, how to improve accuracy in how we calculate losses, how to set up an appeals process, among other considerations. Overall, the approach this dissertation recommends represents an innovative middle path that strives to find a better balance between the goals of efficiency and fairness, and it could also serve as a possible model for reevaluating economic loss compensation regimes, in general, including other types of industrial pollution beyond oil spill compensation. Keywords: Oil Spill, Economic Loss, Interim Payments, Scientific Uncertainty, Future Loss, Mass Claims Resolutions, Peace Premium, Efficiency, Fairness, Oil and Gas Industry Acknowledgements First, I would like to wholeheartedly express my deepest gratitude to my supervisor and the Committee Chair, Professor Dongsheng Zang (the Director of Asian Law Center) who has been a constant source of excellent guidance, patience, inspirational atmosphere, and tremendous support throughout my study for the past several years at UW School of Law. Without his guidance and persistent help this dissertation would not have been possible. I would like to also express my deepest appreciation to my reading committee members— Professor William Rodgers (Stimson Bullitt Endowed Professor of Environmental Law, Emeritus Professor of Law); Professor Sanne Knudsen (Stimson Bullitt Endowed Professor of Environmental Law, Associate Dean for Research & Faculty Development); Professor Usha Varanasi (the former director of NOAA’s Westcoast Center of Excellence for Ocean and Human Health); and my GSR, Professor Thomas Leschine (the former Director of the School of Marine and Environmental Affairs)—whose works, comments, advices and meaningful encouragement have inspired and demonstrated to me that concern for environmental justice does matter. It is beyond my expectation to have a chance and privilege to learn from this “dream-team” and highly distinguished committee members. In addition, I would like to express my special thanks to Professor Johnathan Eddy, Professor Elizabeth Baldwin, and Professor Peter R. Day (the principal of Mercer Island Arbitration Chambers International, LLC.) who have been kindly providing enormous support since my LL.M at UW Law School. I would like to also thank Professor Michael Townsend, Dr. Melissa Kane, and Professor Hilary Soderland for kind assistances and advices during my study at the PhD grogram. Also, I would like to thank the staff members of UW Law School and the Thai Office of Educational Affairs for their excellent services and kind advices throughout my study here at UW. I would not have been able to complete my study here in the U.S. without the opportunity and financial support from the Royal Thai Government Scholarship Program and Chulalongkorn University. In this regards, I would also like to express my deepest respect and gratefulness to Prof. Tithiphan Chuerboonchai, Prof.Dr. Sakda Thanitcul, and Prof.Dr. Nantawat Boramanand. In addition, I would also like to thank to all my friends and colleagues back in Thailand for all the kind support and encouragement—especially Prof. Tashmai Thongurai, Prof. Kanaphon Chanhom, Prof. Wirote Watinpongpun, Prof. Narongdech Srukhosit, and Prof. Angkanawadee Pinkaew for the meaningful help about my study at UW. I would like to also thank all my friends for encouragement and wonderful memories we have together in the U.S., including my LL.M and Ph.D. cohorts (Sipim, Dayoung, Juan, Ye, Andy&his wife, Bashir, Alex), all my friends at UW law school since my LL.M, as well as my good friends from other schools, for standing by me throughout this adventure. Special thanks go to Dr. Sipim Wiwatwattana and Huaxia who, as a good friend, always willing to help, especially for the technological part of my work. I wish I could write every name of all the meaningful people in my life down on this page, but even if I cannot practically do so, please know that “you have my heart”. Finally, with all my heart, I would like to thank my parents whose love, understanding, patience, encouragement and prays of day and night make me able to come this far and I can tell you, as always, that “I'm everything I am. Because you loved me.” Thank you. “Far and away the best prize that life has to offer is the chance to work hard at work worth doing” Theodore Roosevelt, Speech in New York, September 7, 1903 Dedication To my parents Table of Contents List of Figures…………………………..…………………………..…………………………..iii List of Tables……………………..…………………………..…………………………………iv Abbreviations…………………………..……………………..………………………………...v Chapter 1 Introduction…………………………..………..……………………………….…1 1.1 Background of the Study: The Story of Oil-Spill Compensation Regime in Rayong…………………………………………………………………………..2 1.2 The statement of the problem: The Inadequacies of the Existing Regime of Thai Laws…………………………………………………………..………….12 1.3 A Review of the US Approach: Where Lessons Can Be learned………………...20 1.4 Objective of the Study ……………………………………….…………………...27 1.5 Research Question and Hypothesis………………………………..……………...28 1.6 Methodology……………………………………………..…….…………………29 1.7 Scope and Structure…….………………………………………………………...30 1.8 Significance and Contribution……………………………………………………36 Chapter 2 A Comprehensive Approach to the Oil-Spill Compensation: The US experience………………………………………….…………………......38 2.1 Introduction……………………………………………………….………………..38 2.2 The Creation of GCCF ………………………………………………………….....39 2.3 The GCCF Compensation Structure………………………………………...……..53 2.4 The Three main problems of the GCCF operation………………...………………76 2.5 The Current Status of the GCCF……………………………………..……………94 2.6 Concluding Remarks……………………………………...………………….……95 i Chapter 3 Can the OPA regime be, at least in theory, defended? ……………………98 3.1 Introduction ……………………………………………………………….……98 3.2 Performance in terms of Cost-Efficiency Criteria…………………………..…101 3.3 Performance in terms of Compensation Offers and The Finality Function…...112 3.4 Can the OPA regime be, at least in theory, defended? ……………………….119 3.5 Striking at the Right Balance: The Need for Rebalancing the Design…….….139 3.6 Concluding Remarks…………………………………………………….....…141 Chapter 4 Building a New Framework for Thailand……………..………………….153 4.1 Introduction ……………………………………………………………...…...153 4.2 The Challenge of the Oil Spill Case and the Inadequacies of the Thai Legal Regimes…………………………………………………..155 4.3The Proposed Recommendations: The New Legal Framework……………...167 4.4 Suggested Design Considerations for future Claims Faculties Model………181 4.5 Concluding Remarks …….……………….……………….………………...193 Chapter 5 Conclusion…………………………………………………………………197 Bibliography…………………………………………………………………………...214 ii List of Figures Figure 1. ……………………………………………………….………………………….......1 Thailand Petroleum Concession Map Figure 2. ……………………………………………………………………………...…........3
Load more

Recommended publications
  • Lapa Public Lectures and Workshops
    LAPA PUBLIC LECTURES AND WORKSHOPS In addition to LAPA’s regular seminar series and conference events, LAPA also sponsors or cosponsors public lectures, informal workshops and other events that are not part of a regular series. Those events are listed here, from the most recent back to LAPA’s beginnings. Robert C. Post, David Boies Professor of Law at Yale Law School Third Annual Donald S. Bernstein ’75 Lecture May 3, 2007, 4:30 pm Robert C. Post joined the Yale faculty as the first David Boies Professor of Law. He focuses his teaching and writing on constitutional law, and is a specialist in the area of First Amendment theory and constitutional jurisprudence. Before coming to Yale Law, he had been teaching since 1983 at the University of California, Berkeley, School of Law (Boalt Hall). Post is the author of Constitutional Domains: Democracy, Community, Management and co-author with K. Anthony Appiah, Judith Butler, Thomas C. Grey and Reva Siegel of Prejudicial Appearances: The Logic of American Antidiscrimination Law. He edited or co- edited Civil Society and Government, Human Rights in Political Transitions: Gettysburg to Bosnia, Race and Representation: Affirmative Action, Censorship and Silencing: Practices of Cultural Regulation and Law and Order of Culture. His scholarship has appeared academic journals in the humanities as well as in dozens of important law review articles, many in recent years with his colleague Reva Siegel. In 2003, he wrote the important Harvard Law Review “foreword” to its annual review of Supreme Court jurisprudence. Post was a law clerk to Chief Judge David L.
    [Show full text]
  • Department of the Treasury FOIA Log 2010 1 Requestor Requesting
    Department of the Treasury FOIA Log 2010 Requestor Requesting Organization Request Short Description Request Type Number (b) (6) 2010-01-001 request for records concerning IG Investigations closed since October 1, 2008 FOIA (b) (6) 2010-01-002 request for records concerning personal matters. FOIA Stephen Meardon Bowdoin College 2010-01-003 request for records concerning a report produced within the Division of Monetary FOIA Research in 1938 John Lehrer Baker Hostetler 2010-01-004 request for records pertaining to Revenue Ruling 2006-27, 2006-1 C.B. 915. FOIA Geoffry Walsh National Consumer Law 2010-01-005 request for records concerning Making Home Affordable Program documents FOIA Center Stephen Meardon Bowdoin College 2010-01-006 request for records concerning a 1938 report regarding "The Criteria for Determining FOIA Injury to Domestic Injury (Anti-Dumping Act of 1921) (b) (6) 2010-01-007 request for records pertaining to personal matters FOIA (b) (6) 2010-01-008 request for records concerning personal matters FOIA (b) (6) 2010-01-009 request for records concerning personal matters FOIA (b) (6) 2010-01-010 request for records concerning Secretary Geither's Presidential Commission and Oath FOIA of Office. (b) (6) 2010-01-011 request for records concerning personal matters FOIA (b) (6) 2010-01-012 request for records concerning custody permitting or granting Wachovia Bank or any FOIA of its top holders to be agents for general government (b) (6) 2010-01-013 request for records concerning personal matters FOIA (b) (6) 2010-01-014 request
    [Show full text]
  • The September 11Th Victim Compensation Fund
    Brooklyn Law School BrooklynWorks Faculty Scholarship Winter 2003 Grief, Procedure and Justice: The eptS ember 11th Victim Compensation Fund Elizabeth M. Schneider Brooklyn Law School, [email protected] Follow this and additional works at: https://brooklynworks.brooklaw.edu/faculty Part of the Dispute Resolution and Arbitration Commons, Legal Remedies Commons, and the Other Law Commons Recommended Citation 53 DePaul L. Rev. 457 (2003-2004) This Article is brought to you for free and open access by BrooklynWorks. It has been accepted for inclusion in Faculty Scholarship by an authorized administrator of BrooklynWorks. GRIEF, PROCEDURE, AND JUSTICE: THE SEPTEMBER 11TH VICTIM COMPENSATION FUND Elizabeth M. Schneider* INTRODUCTION The September 11th Victim Compensation Fund of 2001 is unprece- dented in the American legal system. The Victim Compensation Fund emerged from congressional efforts to bail out the airlines from law- suits arising from the September 11th tragedy. The compromise was to give those who lost family members, or were injured, something in return for waiving the right to sue the airlines-to give them compen- sation for their loss. In this Article, I examine the Fund through the lens of the ex- traordinary grief and trauma-both collective and individual-that has shaped our post-September 11th psychic, social, and political land- scape. The grief and trauma that we have experienced as individuals and as a nation is unprecedented-a level of fear, anxiety, sadness, and a sense of horror as what was previously unimaginable has now become imaginable. Because the grief and trauma experienced as a result of September 11th has been so profound, so widely shared, and so public, it is especially important to consider these issues in assessing the Fund.
    [Show full text]
  • The BP Oil Spill Settlements, Classwide Punitive Damages, and Societal Deterrence
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Via Sapientiae: The Institutional Repository at DePaul University DePaul Law Review Volume 64 Issue 2 Winter 2015: Twentieth Annual Clifford Symposium on Tort Law and Social Policy - In Article 19 Honor of Jack Weinstein The BP Oil Spill Settlements, Classwide Punitive Damages, and Societal Deterrence Catherine M. Sharkey Follow this and additional works at: https://via.library.depaul.edu/law-review Recommended Citation Catherine M. Sharkey, The BP Oil Spill Settlements, Classwide Punitive Damages, and Societal Deterrence, 64 DePaul L. Rev. (2015) Available at: https://via.library.depaul.edu/law-review/vol64/iss2/19 This Article is brought to you for free and open access by the College of Law at Via Sapientiae. It has been accepted for inclusion in DePaul Law Review by an authorized editor of Via Sapientiae. For more information, please contact [email protected]. THE BP OIL SPILL SETTLEMENTS, CLASSWIDE PUNITIVE DAMAGES, AND SOCIETAL DETERRENCE Catherine M. Sharkey* INTRODUCTION In late 2012, BP p.l.c. (BP) funded the Court Supervised Settlement Program as part of a class action settlement of the consolidated mul- tidistrict litigation arising from the Deepwater Horizon oil spill in the Gulf of Mexico. The BP settlement provided solely for compensatory damages to claimants. It left open the possibility that claimants eligi- ble for punitive damages could be certified as a class for litigation or settlement purposes against BP’s codefendants (but not BP) in the future. In 2014, Halliburton Company (Halliburton) (one of BP’s co- defendants) reached such a classwide punitive damages settlement.
    [Show full text]
  • United States District Court for the Eastern District of Louisiana
    Case 2:10-md-02179-CJB-SS Document 912 Filed 12/21/10 Page 1 of 8 UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF LOUISIANA IN RE: OIL SPILL by the OIL RIG * MDL NO. 2179 “DEEPWATER HORIZON” IN THE * GULF OF MEXICO, on APRIL 20, 2010 * * THIS DOCUMENT RELATES TO: * JUDGE BARBIER * ALL CASES * MAG. JUDGE SHUSHAN * ******************************************* MOTION TO SUPERVISE EX PARTE COMMUNICATIONS BETWEEN BP DEFENDANTS AND PUTATIVE CLASS MEMBERS N OW INTO COURT come Plaintiffs, who respectfully pray for an order governing ex parte communication between the BP Defendants and putative class members, for the reasons that follow: I . Plaintiffs do not ask the Court to dictate, enjoin or otherwise interfere with the processing or payment of claims by BP thru the Gulf Coast Claims Facility (“GCCF”). II. Plaintiffs, rather, seek to ensure that the proposed Release and associated communications with putative classmembers are neither confusing nor misleading. Case 2:10-md-02179-CJB-SS Document 912 Filed 12/21/10 Page 2 of 8 III BP has been playing a “Shell Game” with the GCCF from the very beginning. When BP wants to rely on the GCCF’s presentment process, or take credit for what the GCCF is doing, then BP freely invokes and adopts the activities of the Claims Facility. When, on the other hand, BP wants to avoid responsibility for the GCCF, or to shield the GCCF from legal or professional responsibilities, then the Claims Facility becomes “independent” from BP. IV. The GCCF should either be a truly separate and independent trust or other juridical entity, with full access and transparency, and attendant fiduciary or other duties to a defined set of beneficiaries, based on a defined set of criteria; or, if, in the alternative, the GCCF is nothing more than an alter ego of the BP Defendants, Mr.
    [Show full text]
  • Upstream Break-Out: Longer Term Investments
    BP 2011 Results and Strategy Presentation Upstream break-out: Longer term investments Upstream break-out 0 200km Longer term investments play to our 0 100kmstrengths Mike Daly: EVP, Exploration Andy Hopwood: EVP, Strategy & Integration 0 200km 0 200km 0 200km 0 250km 0 200km1 Good afternoon. I’m Mike Daly, Executive Vice President, Exploration and together with my colleague Andy Hopwood, Executive Vice President, Strategy and Integration, we will take you through some detail about BP’s longer term future. Bob spoke earlier about our resource base and the upcoming projects. I will deal with our exploration and appraisal portfolios. Andy will then cover our position in unconventionals – and how we are adding value to our major gas positions down the value chain. But first a word about BP’s resource base in general. 1 BP 2011 Results and Strategy Presentation Upstream break-out: Longer term investments Cautionary statement Forward-looking statements - cautionary statement This presentation and the associated slides and discussion contain forward-looking statements, particularly those regarding: expected increases in investment in exploration and upstream drilling and production; anticipated improvements and increases, and sources and timing thereof, in pre-tax returns, operating cash flow and margins, including generating around 50% more annually in operating cashflow by 2014 versus 2011 at US$100/bbl; divestment plans, including the anticipated timing for completion of and final proceeds from the disposition of certain BP assets; the expected
    [Show full text]
  • 1 Issue Six 2018
    UT THREE UNDERWATER TECHNOLOGY Issue Six 2018 Issue SEABED MINING • UNDERWATER1 VEHICLES Capital-Efficient THREE Subsea Solutions UT UNDERWATER Society for Underwater TECHNOLOGY Production Tree Technology Unified Controls Lead time: 12 months 1 Fetter Lane Lead time: 12 months London EC4A 1BR Pump Lead time: 18 months Wellhead Lead time: 8 months Manifold Lead time: 18 months Connection System Lead time: 6 months Seabed nodule collector Image: Krypton Ocean ISSN: 1752-0592 Vol 12 No 6 +44 (0) 1480 370007 Editor: John Howes [email protected] Editorial Assistant: Eddie Current Production: Redefine economic viability with a new Sue Denham approach to subsea production. Advertising: Zinat Hassan The OneSubsea portfolio of standardized designs supports streamlined processes, documentation, [email protected] and manufacturing to deliver integrated production systems that enable achieving first oil as soon as 24 months after contract award. Customized to your field architecture, these capital-efficient solutions help you maximize recovery from new fields to transform deepwater economics across the life of the asset. Find out more at Published by UT2 Publishing for and on behalf of the Society for Underwater Technology. Reproduction of UT2 in whole or in part, onesubsea.slb.com/standardization without permission, is prohibited. The publisher and the SUT assumes no responsibility for unsolicited material, nor responsibility for content of any advertisement, particularly infringement of copyrights, trademarks, intellectual property rights and patents, nor liability for misrepresentations, false or misleading statements and illustrations. These are the sole responsibility of the advertiser. Opinions of the writers are not necessarily those of the SUT or the publishers.
    [Show full text]
  • Deepwater Horizon – Failure of Blowout Preventer (BOP)
    Deepwater Horizon – Failure of Blowout Preventer (BOP) Jim Thomson September 2016 Jim Thomson September 2016 1 20 April 2010, Gulf of Mexico • 11 dead • $350m (2001 cost) platform destroyed • Largest ever oil spill • BP CEO sacked • New regulator (BSEE) created Total BP liability (2016) $61 bn, plus other lesser liabilities: • Anadarko (junior non-operating partner) • MOEX (junior non-operating partner) • Transocean (operator/owner) • Cameron (BOP designer) • Halliburton (drilling contractor) 129 people on board: Final total cost ~$80 bn ?? 6 BP personnel 30 Halliburton Others mostly Transocean Most expensive ever accident (except Chernobyl and Fukushima) Jim Thomson September 2016 2 1. Why didn’t the Blowout Preventer work? 2. Were there any common causes between Deepwater Horizon and the 2005 Texas City Refinery accident? A cautionary tale of bad standards, weak regulation, and minimal compliance Jim Thomson September 2016 3 Deepwater Horizon Sea level 18360 feet (5564 m) 40 feet Blowout 4992 feet from sea level (13 m) Preventer to reservoir (1513 m) to seabed Seabed The BOP was designed and manufactured to API standards by Production Cameron International (Texas), and owned and operated by Casing Transocean (Switzerland) under contract to BP. Cameron: 20000 employees NOT TO SCALE! $8.5 bn turnover (2012) Cameron International was bought by Schlumberger in 2016 SIMPLIFIED! for $14.8 bn. Transocean: 18000 employees $10 bn turnover (2012) Hydrocarbon Jim Thomson September 2016 Reservoirs 4 The role of the BOP was to shear the drill pipe
    [Show full text]
  • Environmental Justice and the BP Deepwater Horizon Oil Spill
    Scholarship Repository University of Minnesota Law School Articles Faculty Scholarship 2012 Environmental Justice and the BP Deepwater Horizon Oil Spill Hari M. Osofsky University of Minnesota Law School, [email protected] Kate Baxter-Kauf Bradley Hammer Ann Mailander Brett Mares See next page for additional authors Follow this and additional works at: https://scholarship.law.umn.edu/faculty_articles Part of the Law Commons Recommended Citation Hari M. Osofsky, Kate Baxter-Kauf, Bradley Hammer, Ann Mailander, Brett Mares, Amy Pikovsky, Andrew Whitney, and Laura Wilson, Environmental Justice and the BP Deepwater Horizon Oil Spill, 20 N.Y.U. ENVTL. L.J. 99 (2012), available at https://scholarship.law.umn.edu/faculty_articles/415. This Article is brought to you for free and open access by the University of Minnesota Law School. It has been accepted for inclusion in the Faculty Scholarship collection by an authorized administrator of the Scholarship Repository. For more information, please contact [email protected]. Authors Hari M. Osofsky, Kate Baxter-Kauf, Bradley Hammer, Ann Mailander, Brett Mares, Amy Pikovsky, Andrew Whitney, and Laura Wilson This article is available at Scholarship Repository: https://scholarship.law.umn.edu/faculty_articles/415 ENVIRONMENTAL JUSTICE AND THE BP DEEPWATER HORIZON OIL SPILL HARI M. OSOFSKY, KATE BAXTER-KAUF, BRADLEY HAMMER, ANN MAILANDER, BRETT MARES, AMY PIKOVSKY, ANDREW WHITNEY & LAURA WILSON* This Article analyzes the environmental justice implications of the BP Deepwater Horizon Oil Spill and proposes ways to better address these concerns currently and in the future. It explores the justice problems that have arisen with respect to the spill response, compensation, and employment and workers.
    [Show full text]
  • 3 September 2001 Company Announcements Office Australian
    3 September 2001 Company Announcements Office Australian Stock Exchange BHP BILLITON LIMITED GROUP APPENDIX 4B DISCLOSURES The following document contains the balance of the BHP Billiton Limited Group Appendix 4B disclosures to the Australian Stock Exchange (ASX) for the year ended 30 June 2001. This document should be read in conjunction with the preliminary results for the BHP Billiton Limited Group released to the ASX on 20 August 2001. Karen J Wood Company Secretary BHP Billiton Limited ABN 49 004 028 077 Registered in Australia Registered Office: 600 Bourke Street Melbourne Victoria 3000 Australia (GPO Box 86A Melbourne Victoria 3001 Australia) Telephone (61 3) 9609 3333 Telex AA30408 Facsimile (61 3) 9609 3015 A member of the BHP Billiton Group, which is headquartered in Australia BHP Billiton Limited Group 2000/2001 FINANCIAL RESULTS 3 September 2001 The following additional information is provided in relation to the results for the year ended 30 June 2001. Statement of Financial Performance 30 June 30 June for the financial period ended 2001 2000 (1) $m $m Revenue from ordinary activities Sales .............................................................................................................. 20 698 21 506 Interest revenue .......................................................................................... 110 96 Other revenue ............................................................................................. 1 671 2 051 22 479 23 653 deduct Expenses from ordinary activities, excluding depreciation,
    [Show full text]
  • Prometheus Unbound: the Gulf Coast Claims Facility As a Means for Resolving Mass Tort Claims - a Fund Too Far, 71 La
    Louisiana Law Review Volume 71 | Number 3 Spring 2011 Prometheus Unbound: The ulG f Coast Claims Facility as a Means for Resolving Mass Tort Claims - A Fund Too Far Linda S. Mullenix Repository Citation Linda S. Mullenix, Prometheus Unbound: The Gulf Coast Claims Facility as a Means for Resolving Mass Tort Claims - A Fund Too Far, 71 La. L. Rev. (2011) Available at: https://digitalcommons.law.lsu.edu/lalrev/vol71/iss3/3 This Article is brought to you for free and open access by the Law Reviews and Journals at LSU Law Digital Commons. It has been accepted for inclusion in Louisiana Law Review by an authorized editor of LSU Law Digital Commons. For more information, please contact [email protected]. Prometheus Unbound: The Gulf Coast Claims Facility as a Means for Resolving Mass Tort Claims-A Fund Too Far Linda S. Mullenix* I. INTRODUCTION In the well-known Greek myth, Prometheus stole fire from the Greek god Zeus and gave it to humanity. In return for this arrogance, Zeus had Prometheus chained to a rock in the Caucasus Mountains where Prometheus was punished by an eagle eating away at his liver, which regenerated every night. Because Prometheus was immortal, he was condemned to eternal torture by the voracious eagle's pecking. After 30 years of this punishment, however, Hercules appeared, killed the eagle, and liberated Prometheus from his unending torment. In return for freeing him, Prometheus rewarded Hercules with the secret to completing the 11th of his famous Herculean labors.' On April 20, 2010, an explosion on the Deepwater Horizon rig killed 11 workers and unleashed the worst oil spill in American history.
    [Show full text]
  • Judge Lloyd D. George Lecture on the Judicial Process Kenneth Feinberg
    The UNLV William S. Boyd School of Law, the Jewish Federation of Las Vegas, and the Anti-Defamation League together with the Saltman Center for Conflict Resolution present the second annual Judge Lloyd D. George Lecture on the Judicial Process Kenneth Feinberg Thursday, December 4, 2014 4:00-5:15 p.m. Thomas & Mack Moot Court UNLV William S. Boyd School of Law Reception to follow This event is free and open to the public, but registration is required. RSVP at law.unlv.edu/JudgeGeorgeLecture2014Fall Kenneth R. Feinberg has been key to resolving many of our nation’s most challenging and widely known disputes. He is best known for serving as the Special Master of the Federal September 11th Victim Compensation Fund of 2001. He shared his extraordinary experience in his book What Is Life Worth?, published in 2005 by Public Affairs Press. He later became Fund Administrator for the Hokie Spirit Memorial Fund following the tragic shootings at Virginia Tech. He was appointed Special Master of TARP Executive Compensation by the Secretary of the Treasury in 2010. He is the former Administrator of the Gulf Coast Claims Facility, established by the Obama Administration to process claims for compensation arising out of the Gulf of Mexico oil spill in 2010, and previously served as Special Master in the Federal Agent Orange Product Liability litigation. Mr. Feinberg is the managing partner of Feinberg Rozen, LLP. He is a former Assistant United States Attorney in the Southern District of New York and served as Administrative Assistant to Senator Edward M. Kennedy. Mr.
    [Show full text]