On Thu, Nov 29, 2012 at 9:15 AM, Peter Kurilecz <[log in to unmask]>wrote:

> the key is that it was not what the
> records or information was worth but how much it would cost to recreate the
> information. I'll have to check my files but I remember that ExxonMobil was
> able to prove that it would cost over $10,000 to recreate the contents of
> one box.
>

Actually it was Mobil Oil Corp, and the value was over $20k/box.  Most of
the records lost were related to underground tank surveys at service
stations, and included ground penetrating radar results, drawings, vadose
zone monitoring reports and other supporting information required by EPA to
certify tanks were not leaking and that chemicals weren't leaching into
groundwater.

And yep, a HUGE (well, not Powerball huge, but $40M) award to a group of
customers was made by the court, with a 60/40 split between Diversified
Records and Grinnell, the sprinkler manufacturer, but there was never
anything published that indicated the parties EVER RECEIVED any of that
money.

Grinnell had reached an agreement with Diversified to pay less than $2M,
and because they were both named in the suit, that settlement left
Diversified with no liability... so after the attorneys fees came out of
what was paid, there was likely not much of anything left got Mobil Oil, or
any of the other plaintiffs.

The parties I felt bad for were the small privately held firms that were
storing their business records and they lost everything, and at best got a
"sorry" and $1 per box.

Larry
[log in to unmask]

-- 
*Lawrence J. Medina
Danville, CA
RIM Professional since 1972*

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