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Victims could get £545,000 'interim payment'
Buncefield trial day 20. Residents and business owners who suffered damage and injury in the Buncefield disaster should get more than £545,000, a court heard.
Victims of the 2005 fuel depot blast in Hemel Hempstead are still waiting for a final High Court decision on compensation.
But at a special hearing held at the court in London on Monday, November 17, lawyers for residents and business owners argued oil companies should pay out 545,242 while the case continues.
Lexa Hilliard QC, acting for Collins Solicitors, told the court Total and HOSL should make the 'interim payment' to cover legal costs incurred by the firm's clients – including more than 270 residents affected by the disaster.
Ms Hilliard said: "Throughout my clients have been exposed to a very significant liability of costs.
"For those involved not used to litigation it has been a very stressful period."
She added: "My clients should not have to bear any part of those costs."
Ms Hilliard said 'about 95 per cent' of costs incurred by her clients so far in the High Court case related to issues of liability and 'foreseeability'.
The court also heard from lawyers representing oil company Shell, which was hit by the fuel depot blast.
Laurence Rabinowitz said his client had agreed interim payments with Total and HOSL of almost 8million in damages and 300,000 in costs.
Meanwhile Lawyers for private equity firm Blackstone told the court its client had seen the value of a new warehouse near Buncefield slashed by the fuel depot disaster.
John McGhee QC said the rental value prior to the Buncefield explosion was 65million, and the building was now worth 6million.
Michael Harvey QC, acting for HOSL - the joint Buncefield company including Total and Chevron - said his client had been working hard to solve the issues over interim payments.
He said: "Total and Chevron have been dealing in very good faith in trying to resolve these matters."
Residents and businesses are seeking damages of around 700million from Total and HOSL.
The case continues.
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Friday 25 May 2012
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