In response to Assemblyman John McKeon’s (D-27) query, Attorney General John Hoffman this afternoon said attorney’s fees for the State of New Jersey in the Exxon Mobil settlement would be around $40-45 million.
The corporate giant will pay $225 million for contamination of the Garden State in a deal secured by Hoffman, who this afternoon tok questions from the Assembly Budget Committee.
Hoffman told McKeon that the court will ultimately determine the precise amount.
His guess at this time is that the fees will add up to “about a fifth.”
When McKeon began sawing into the figures, Hoffman invoked an old Saturday Night Live sketch in which Chevy Chase depicted a mathematically challenged President Gerald Ford. “They told me there’d be no math,” Hoffman cracked.
State Senator Ray Lesniak (D-20) later noted that the proposed settlement gives up the state’s right to attorney fees and expert costs, and estimated the latter would be around $10 million.