BP Settlement News
BP Settlement News
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First off they are talking about a document now that is 500 pages long of all the proposed agreements, a document that will probably be 750 pages before being submitted to the courts for approval. The approval will probably be in 4-6 weeks. Nothing is final before it has been approved by the courts and any legal challenges to the settlement have been presented in court.
The Worst Things About the BP Settlement
This is the one thing about the BP settlement that worries me the most. If you opt in to the BP settlement and get an offer that you cannot accept your only option is to go to an appeal process. When you opt in to the BP settlement you give away your right to sue BP
Now it’s very important for you to let your lawyer go through this BP settlement proposal and find out if your specific case is right for the BP settlement.
Do not go through this process alone, because if you get an offer you cannot accept it’s the end of the road. We all know how the GCCF appeal processed worked (US Coast Guard) and I don’t want anybody to be out of options with their case at the end of the day.
Have your lawyer look at your specific case to see whether you should opt in or opt out of the BP settlement.
From the talk I have had with attorneys from multiple law firms the BP settlement process probably only applies to 30% of all the cases. The risk somebody takes opting in to the BP settlement without the possibility to later opt out is the biggest problem with the BP settlement.
We can all hope and pray that this will be changed in the final draft, if this is not changed I fear this BP settlement is nothing more than a BP PR stunt and not many claims can be resolved by it.
Water Front Properties Update
Today we got to know more about the settlement and everything I posted yesterday is still good. Property owners along the gulf coast from Panama City to New Orleans we need to hear from you as the proposed settlement sounds like something that you should be a part of. These where not claims paid by the GCCF so for you this BP settlement could be a way for you to get paid on your claim for loss of use of your house and beach during the BP oil spill.
Groups That Are Not Included In the BP Settlement
This section is going to outline groups of people that are not included in the BP settlement. Now if you are part of this group, screw BP find yourself a lawyer and file suit against them. Right hand side form gives you a great attorney. Here are the groups not included in the BP settlement.
- Moratorium Claims
- Oil and gas industry claimants
- Defense contractors
- Financial advisors
Again if you are part of this group get an attorney and file suit for your losses from the BP oil spill.
BP Settlement for Failed Business and Startup Business
This has been a group of people that have had a very hard time in the GCCF because nobody could ever come up with a calculation on how these situations should be handled. So let me try to explain how this will work in the proposed settlement.
If you had a business that failed because of the BP oil spill impact on your business then you need to meet these criteria to have a chance to be included in the BP settlement.
- Business has to have been there in 2008
- Business should not show financial difficulty before the spill
The second point on this list would be hard for any business to comply by as most business had a hard time in 2009 because of the general economy. However there are probably some business that fits in this box and they could get compensation.
For Start up Companies that failed because of the BP oil spill and the impact on the new business. The following criteria apply for start up business and how to evaluate their loss. (Propose agreement)
- Book value at time of the spill
So in the case of start up companies as I think I have talked about before, BP would basically buy the start up company at the time of the oil spill. This could be good news for some start up’s and their ability to get paid for their losses. However as with the GCCF many start up’s are not going to fit the box that the BP settlements are trying to put them in. At that point an attorney could always take it to BP for a settlement offer or trial for the courts to decide.
Now I am probably going to write another post just now as I hate to bring so much bad news in one post and I have plenty more information to share on the proposed BP settlement
The news about the BP settlement is getting better every day, and it sounds like the payouts if you are in the BP settlement with an attorney will be very reasonable. Now let me highlight a few things in the BP settlement you should consider.
Multiple BP Settlement Claims Let Your Attorney Advice You.
Its so important that you get connected with an attorney in this period where we are waiting for the BP settlement to be approved and set up, because your attorney needs to find all the claims you have to present to the BP settlement fund.
It could be that your are eligible to file 3 different BP Settlement claims but don’t even know it, your attorney and their processing team will have all the information about the settlement and what claims you can file for. Listen to what paperwork they request from you and provide them with it in a timely manner as the window on the start of the BP settlement is closing down.
If you still don’t have an attorney fill out the form on your right to connect with an oil spill attorney now.
Rental House Claims In The BP Settlement
The coast if Florida is full of rental house that had a very rough year in 2010, now it looks like the BP attorney settlement is going to be fair with the people that had rental houses that had losses in 2010. If you are in the effected area you should see 3.5 times your 2010 loss in the BP settlement. I think this is a very good settlement for most people with rental house losses. Get an attorney to work up your case for presentment to the BP Settlement now.
Lots of people with claims for losses from a rental house on the beach, or a condo rental. Get your claims in now. Also people with rental houses that live on the beach might also have a claim for use and enjoyment of their private residency during the BP oil spill. They might also work locally and have another claim for loss of hours or loss of bonus from that job.
Florida Residents Again The Big Winner In The BP Settlement
Since ground zero of economical losses from the 2010 BP oil spill was center around Orange Beach AL to Panama City Beach FL, it looks to me like Florida residents and business will be the big winner in the BP settlement payouts. The amount of BP claims not even filed yet from Business and residents in Destin or Panama City could reach 50,000 -100,000 new claims, just in that area. You have the water front properties and all the people that where denied by the GCCF that will now get an attorney and take their case to the BP settlement fund.
Deadline For BP Settlement Applications
The BP settlement fund when open up will run for a little over 1 year to July 2013 or 3 years after the oil stopped spilling. If you have a claim under these new rules or where denied a claim before by the GCCF you can apply with an attorney to the new BP settlement and hopefully get paid. It will be all about the documentation you can supply to your attorney with your claim. The documentation will make the difference if you get paid or not. You can still get with an attorney now and have them put together your BP settlement presentation and get you paid on your claims.
Many of the people operating VOO boats as captains or deckhands might have been exposed to the Corexit or Benzen while working the oil spill with out proper respiratory gear. It something you should remember if you where on any of the VOO boats cleaning up the oil. Many people might have multiple claims in the BP settlement and you have to remember to file for all of them with your attorney.
Deck Hands On VOO boats Possible Exposure
The deck hands on the VOO boats might have the biggest risk of exposure from the work they did, remember in the medical settlement you should report any incident of exposure and have witness give you a statement of account when the exposure took place.
As a new article in the huffington post explains in detail the mistakes that was made when VOO clean up crew was not given respiratory masks to combat the oil, now people are suffering from respiratory illnesses and skin rashes.
Check All Your Possible Claims With Your Lawyer Before Opt. In For BP Settlement
Its very important that you give your attorney all the information to base your claim on before opt. in for the BP settlement, because once you do there is no opt. out.
This is a standard Class Settlement where once Opt. in there is no Opt. out, there will be an appeal if you are not happy with your offer that the court with 1 or 3 judges will have for your case, but you give away your rights to sue BP once you Opt. in for the BP settlement
If you have a claim that was previous in the GCCF and was never paid, denied or if you have yet to file a claim on your losses from the BP oil spill its time to sign up now for the BP settlement. The sign up process is on the right hand side where you contact an attorney to handle your case for you.
There are so many new ways to file a claim in the BP settlement that there should be many new claims coming in. The water front properties, oil on your land, medical, Voo boats, any loss for beach business, sale of a house or land may 2010-Dec 2011. You can find all the different categories above to see if one fits you situation.
Many denied claims in the GCCF will have a new shot at getting compensation in the BP settlement as causation in most cases are given so you only have to prove your loss.
You Don’t Pay The Attorney Before You Get Paid
The great think about this BP settlement is that your attorney does not get paid a dime before you get paid. So its free to sign up and get your case processes, first when you get money do the attorneys get money. They will do all the work of getting your case ready for settlement and have accountants look at your case to maximize your payout.
If you have a case that is not included in the BP settlement the attorneys will file the claim directly with BP and then litigate the case at trial. Cases that does not fit the BP settlement would be Moratorium cases, severed personal injury cases, large and complicated business claims. The BP settlement still tries to put peoples claims in boxes so there will still be some cases that do not fit in those boxes.
Most cases will fit however in the boxes where individual wage earners are being helped and tourist and seafood business are being helped.
Geographical Location For The BP Settlement
Remember that the GCCF paid claims from some 52 countries, even though this BP settlement puts its main focus on the 5 states effected by the BP oil spill, many good claims are coming in from house, condo and land owners that lives in other states or countries. Most people have had loss of rentals in 2010 but some also had to sell after the BP oil spill and their now have claims for loss of sale value. Most claims that will fit in the BP settlement are from all of Florida both East and West coast of Florida, Alabama coast, Mississippi Coast, Louisiana coast and New Orleans, Texas coast line to Houston Texas.
A seafood restaurant in Houston would have had guaranteed losses from the BP oil spill because of the stigma the gulf seafood got after the oil spill and to some extent still have today.
Get With An Attorney On Your BP Settlement Claim
The BP settlement process is already taken applications as the attorneys have been preparing claims for the BP settlement ever since the date is was announced. If you want to get your paperwork into the BP Settlement the deadline is as soon as possible to be part of the settlement from the state. After you sign up with the attorneys you have to get your documentation in as soon as possible there after to get worked up and prepared to the BP settlement