coastal caribbean (cco@) Message Board

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Gold/Mining/Energy : coastal caribbean (cco@)

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To: Kive I. Strickoff who wrote (1104)	11/9/1999 10:33:00 PM
From: Edwin S. Fujinaka	Read Replies (1) of 4686

Considering how long this has been dragging on, it is amazing that more of us have not gone berserk and become wild eyed radicals in the process. So far the legal system is following a logical legal progression towards what appears to be an inevitable conclusion. In the end, the only way the State of Florida should be able to prevent Coastal Petroleum from developing their leases offshore would require a formal condemnation under the eminent domain powers of the State with "just compensation" being paid to Coastal Petroleum. In vitually every case, "just compensation" is calculated via an appraisal process that determines "fair market value" for the property (leases) so taken. The State can delay and obfuscate for many more years, but their delaying tactics themselves may become something that could be the focus of additional lawsuits. Even the intial granting of the lease rights may have been a "bad faith" fraudulent transaction that the State never intended to honor. Perhaps punitive damages should be awarded to Coastal Petroleum for just the bad faith part of the deal. Then the State has said many times that there is no oil there so no one should drill. But if they do drill, the potential oil spill should require a bond of $4 Billion! Did the State know that there was likely to be a lot of oil there? Is there a memo somewhere that suggests that the State knew all along that there was likely to be a lot of oil there? Was there an appraisal that suggested as much? Who knew and when did they know and did State Officials lie about it? Does this sound like the tobacco case? Should State Officials face jail time for perjury? Has the State misused it's power in a fraudulent way to injure a small Company. Should punitive damages be assessed for that kind of behavior on the part of the State? How else can the public be protected against the misuse of State power in such a blatently fraudulent way? I hope CCO lawyers can play a little hardball here. It's not that we need to assess punitive damages, but there should be the threat of some penalty against a Government Entity that deliberately tries to get around the law by lying and raising phoney issues with the intent of denying justice through deliberate delays. The Court has explicitly said that there is no dispute about the validity of the leases and justice delayed is justice denied. Perhaps the only negotiating hook the State has left is that they can delay for several more years. It's probably worth some concessions to this form of blackmail to get the State to settle this sooner rather than later. I hope that Phil Ware is up to negotiating some reasonable settlement from a position of strength here. If not, it may be time to call in some new negotiators.

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