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Insurance company blamed for sinkhole buyout holdup

3 years 4 months 1 week ago May 20, 2013 May 20, 2013 Monday, May 20 2013 May 20, 2013 12:35 PM in News
Source: WBRZ
By: Russell Jones

BATON ROUGE - The company which owns land a massive sinkhole appeared on blamed their insurance carrier today for the holdup in buyouts for nearby property.

Texas Brine, LLC released a statement which said their carrier hasn't approved any money for buyouts just yet, and they're working with the insurance company to get that money as soon as they can.

Around 100 residents living near the sinkhole in Assumption Parish signed up to have their properties bought out. Officials said Texas Brine is nearly three weeks overdue to make offers for their land.

Estimates put the damage and related costs from the sinkhole at $40 million, which the state says Texas Brine is liable for. 

Gov. Bobby Jindal scheduled a press conference this afternoon to address issues with the sinkhole response. News 2 crews are there and will have updates tonight.

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