How Are Out-of-Court Settlements Used in Personal Injury Law?

Out-of-court settlements are often used in personal injury law. Negotiations can begin soon after the incident that causes an injury, as long as the victim doesn’t accept the initial offer from the insurance company. In these cases, personal injury attorneys in your area are the best way to ensure you get the settlement you deserve based on your injuries and the circumstances that lead to the injuries.

In a lot of cases, defendants rarely want to go to trial, especially if evidence is mounted against them, so they will offer a settlement amount to help them save money. However, an experienced personal injury lawyer will be able to calculate how much an injury case could be worth, and fight for you in negotiations to ensure you get the settlement amount you deserve.

Famous Cases Out-of-Court Settlements Were Used

The Master Settlement Agreement

According to the National Association of Attorneys General, “In 1998, 52 state and territory attorneys general signed the Master Settlement Agreement (MSA) with the four largest tobacco companies in the U.S.” This agreement recovered billions of dollars in healthcare costs associated with smoking-related illnesses.

The MSA was not limited to monetary compensation for sates. It also included raising the cost of cigarettes, restricting cigarette advertising, and eliminating tobacco companies’ practices that could obscure health risks.

Deepwater Horizon Oil Spill Settlement

In 2010, a fatal error on the oil rig Deepwater Horizon lead to oil pumping into the Gulf for 87 days. Damages included the deaths of 11 crew members, environmental damages, and long-term threats to wildlife in the area. In 2016, District Judge Carl Barbier approved a settlement for $20.8 billion, which BP would have to pay to the Natural Resource Damage Assessment and Restoration Trustees, made up of five Gulf States and four federal agencies.

The settlement amount includes over $7 billion for restoration over a 15-plus-year period, and up to $700 million to respond to natural resource damages unknown at the time of the agreement.

When is an Out-of-Court Settlement Used in the Legal Process?

Out-of-court settlements are legally binding agreements and are used at the end of the legal process. Once all parties have come up with a settlement that is agreed upon, it is signed, and each party must do their required components of the settlement. Settlements don’t always include only money. In some cases, defendants may want to have non-disclosures on their settlement amounts. In these cases, the plaintiff(s) must never disclose the amount they received from the settlement, under penalties outlined in the settlement itself.

Are Out-of-Court Settlements Used in Kentucky Personal Injury Law?

Yes, out-of-court settlements are a common way for plaintiffs and defendants to avoid long trials and resolve matters of personal injury quickly.

Are Out-of-Court Settlements Used in Tennessee Personal Injury Law?

Yes, out-of-court settlements are the most common ways personal injury cases in Tennessee are resolved.

How Does Hughes & Coleman Injury Lawyers Use Out-of-Court Settlements?

When we say that we fight for you, we are talking about negotiations with big insurance companies and corporations that would have to pay out. While we are always prepared to go to trial for our clients, our goal is to get you the money you deserve as soon as possible. We always try to negotiate a settlement before taking it to trial. However, we aren’t just going to lay down and accept any offer. We take the time to talk to you about the circumstances surrounding your case; we take the time to investigate and review all the evidence for the case; and we help you determine a settlement amount that works for you. If our personal injury attorneys can’t reach an out-of-court settlement, we will take it all the way to trial.