A proposed $657 million settlement for people who worked at New York's Ground Zero following the 9/11 terror attacks is too small according to a federal judge.
Some rescue workers and police officers are suing New York City, saying they suffered health problems working in the dust and debris.
10,000 Federal Judge Alvin Hellerstein said he did not believe the agreement represented a sufficient sum of money. The judge said further negotiations were needed for a fair deal.
Hellerstein noted the injured workers should be able to know the approximate value of the cash award they could receive prior to deciding whether or not they should accept the settlement. He added he was worried too much of the final amount would be taken up by legal fees.
Under the present deal, lawyers' fees may be taken from a $1 billion fund set aside by the federal government to cover the claims.
The fund was set up following the attacks when New York City was unable to find private insurance to cover claims originating in the clean-up effort.
The deal, announced just over a week ago, requires 95% of the plaintiffs to accept it in order for the claim to move forward. Workers were allowed just 90 days to decide whether they wanted to take part. (workersxzcompxzkit)
The judge added this was not enough time for the plaintiffs to make a decision with so much on the line.
Author Robert Elliott, executive vice president, Amaxx Risks Solutions, Inc. has worked successfully for 20 years with many industries to reduce Workers' Compensation costs, including airlines, health care, manufacturing, printing/publishing, pharmaceuticals, retail, hospitality and manufacturing. He can be contacted at: [email protected] or 860-553-6604.
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