Settlement Reached Between BP and Iberville Parish
Pendley, Baudin & Coffin, L.L.P. announces that a settlement has been reached between their clients, the Iberville Parish Council and Iberville Parish School Board for financial losses against British Petroleum arising from the April, 2010 oil spill off the Louisiana Coast. Both of these public entities sustained losses in sales tax revenues mainly as a result of substantial diminution in tourist visits to Iberville Parish. The claim of the Iberville Parish Council was resolved for $1,624,485.92. The claim for the Iberville Parish School Board was resolved for $854,099.74. Both of these public bodies rely on sales tax revenue for a significant portion of their annual income. These funds will be available to each board for any public purpose deemed appropriate.