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Judge OKs $48.1M settlement regarding sinkhole

8 months ago Wednesday, August 13, 2014 11:44:05 AM CDT August 13, 2014 Wednesday, August 13 2014 Aug 13, 2014 in News
Source: Associated Press
By: APNewsNow

NEW ORLEANS - A federal judge has granted final approval of a $48.1 million class-action settlement for Bayou Corne residents affected by a sinkhole that opened two years ago and has been swallowing land ever since.

U.S. District Judge Jay Zainey said Wednesday there were no objections to the settlement, which will compensate 269 people who lived in the area.

Claimants will be paid replacement costs for property they sell to Texas Brine, which was operating a salt mine that's believed to have caused the sinkhole. They will also receive a second payment for damages.

The exact amounts will be determined by Special Master Shelby Easterly. Claimants could expect to receive checks for damages by December.

Zainey also awarded 25 percent of the settlement to plaintiffs' attorneys.

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