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If you received an award in a personal injury case, you may have opted to receive a series of periodic structured settlement payments rather than receiving a lump sum of cash up front. The payments are usually received as a...
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Bonneville Structures Settlement with California Edison
The Bonneville Power Administration has reached agreement with Southern California Edison on the proposed structure of a settlement to two lawsuits resulting from the Western energy crisis five years ago.
If the settlement structure is approved, Bonneville will pay Edison future payments of $28.5 million plus interest to resolve legal claims against the agency totaling about $208 million.
The lawsuits in the U.S. Court of Federal Claims grew out of a dispute over terms of a 1988 power sales contract during the crisis.
Payments under the settlement would be made only after resolution of separate litigation over California refunds for claims and lawsuits resulting from the energy crisis in 2000-01.
The proposed Edison settlement is structured so that payment will be made only when the California refund proceedings are resolved and the net amount, if any, due to BPA has been received in its entirety, officials said.
“The settlement would help put the fallout of the West Coast energy crisis behind us,” said Steve Wright, Bonneville administrator. “It would protect Northwest ratepayers while re-establishing a collaborative business relationship with an important business partner in California.”
Source: OregonNews.com
If you have ever considered getting cash for your structured settlement, you may first want to contact a lawyer and financial advisor. There are specific regulations in most states that restrict the sale of structured settlements. You will also need...
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