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Cozen O’Connor Hired To Regulate BP Gulf-Compensation Fund

cozen o'connorPhiladelphia lawyer, Stephen Cozen, partner at Cozen O’Connor, has been hired to sketch up the rules on BP’s gulf-compensation fund.

The $20 billion fund will be dispersed among businesses and persons who were caused loss by April’s Deepwater Horizon well explosion. The administrator of the fund, Kenneth Feinberg says that “no one else in the nation” has Cozen’s understanding or experience regarding the issues at hand.

Cozen’s firm, Cozen O’Connor specializes in disasters. They worked such high profile cases as the MGM Grand Hotel fire in 1980 and the 1981 collapse of the skywalk at the Hyatt Regency in Kansas City.

Cozen will help determine which businesses and people are eligible for compensation. He said, “You might have a restaurant in Boston that serves Gulf Coast shrimp. Those business are not going to be eligible for anything.”

Cozen also said that there were nine attorneys working on different areas of the case. Among the practice areas involved in the spill are the firm’s litigation, maritime, insurance grups, as well as the firm’s energy department. The firm generally charges somewhere between $400 and $600 per hour.



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Posted by on August 17, 2010. Filed under Legal News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry