So what rights would we New Yorkers have to compensation in the event of a New York Nuclear Power Plant Catastrophe?
Let’s assume that Oswego’s Nuclear Power Plant suddenly broke down and started spewing out dangerous radioactivity, just like in Japan. Let’s assume your family ended up sick, or dead, and that you had to move out of your home — forever — and that its market value was reduced to zero dollars. Can you sue the Power Plant owner? If so, for how much?
Well, I’ve got some bad news for you. Even though under New York common law principles you would be able to sue the power company for every penny of compensation you were entitled to for all those catastrophic losses, a not-well-known federal law trumps New York law, and would probably force you to accept pennies for every dollar you would otherwise be entitled to.