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"There is little doubt that the settlement number would have been in the many hundreds of millions of dollars," one person involved in the case said yesterday.
The cases that settle very late are the result of potential damages being so large, and the defenses — particularly loss causation and statutes of limitation and repose — so seemingly strong, that the parties cannot find a settlement number they can both live with.
Botsford and his team agreed to the settlement number as a way to move the process forward.
"Even if the final settlement number is $25 billion, it pales in comparison to the scope of the problem," said Margery Golant, a Florida-based attorney who represents homeowners and formerly served as assistant general counsel at subprime mortgage giant Ocwen Financial.
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These surveys involve the community sitting down together, walking through the settlement numbering each house, and using enumeration as a tool to identify and address their own priorities.
Rumours are rife that the settlement numbers changed constantly during the negotiations between the banks and the multiple government agencies involved, in part because no regulator wanted to be seen to get less from a settlement than its peers.
There is no responsibility associated with high settlement numbers.
Liu (2007: 55) records, for the Danshui River near Taipei, an increase in settlement numbers from 3 in the early Dabenkeng (earliest Neolithic) phase to more than 20 in the middle Dabenkeng, then to more than 50 in the following Middle Neolithic Shuntanpu phase at c.2,000 BC.
Pre-European settlement numbers are not known with any precision, although the Indigenous population of the Northern Territory has been estimated at "well over 10,000".
In recent years, Australia has experienced a rapid increase in asylum seeker arrivals, creating new challenges for services in areas with high settlement numbers.
We hope that the study will directly inform the development, implementation and impact assessment of football, and sport programs more generally, in Australia and other countries and contexts with high refugee settlement numbers, or high numbers of disaffected youth.
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CEO of Professional Science Editing for Scientists @ prosciediting.com