Tag: oil spill settlement

BP Oil Spill Settlement

The proposed BP settlement should be good for many people that have been waiting for payout from the GCCF or for people that have been denied by the GCCF.

In the new BP settlement there are now many more categories of claims that will be paid much more than what the Gulf Coast Claims Facility (GCCF)was offering. For business in the seafood industry and for tourist business this settlement will in most cases also be something that might work better with more money on the table.

BP Settlement

Previous Denied BP Claims Submit Them Now

In the GCCF you could be denied for 2 things the first one was for failing to show causation ( that the oil spill caused your losses) and the second thing was for failing to show a loss. Most people got denied for causation and in the bp settlement if you are in tourist or seafood industry you do not need to show causation anymore (because its pretty clear what caused it duhh!)

The other thing that has changed in the BP settlement is now medical claims will be paid, we are not talking about the more serious injuries but the smaller incidents that happened for  clean up workers or for local residents that where located to close to the clean up of the spill.

Real Estate Losses Also Paid In The BP Settlement

Another new category in the BP settlement is paid real estate losses. If you sold your house, condo, land that was on the water in the affected area you are entitled to compensation for your diminished sales price because of the oil spill. If your land had oil on it from the oil spill you can get compensation for that, or if clean up efforts on your land destroyed part of your land there will be compensation for that as well.

Having an attorney work up your case and present it to the settlement fund is the right way to get your claim maximized to get you the most money out of the process and to make sure that multiple claims are recognized by the settlement fund.

Seafood Harvesters Claims In BP Settlement

Probably the hardest hit group from the oil spill are seafood harvesters, that would be captains, deckhands and  processors, as both the quantity and the stigma the oil spill put on the seafood has been blemished, the BP settlement will try and make it right for this group of people. It will pay more than the GCCF was paying but if its going to be enough to keep the fishing and harvesting industry going is question that will be answered in years from now. Most oyster leases are gone and many crabbers and shrimpers are already complaining about lousy catches even when they spend more hours out trying to make up for their losses. The losses in the seafood industry have been great and are getting greater for each day that goes by with out compensation for the industries losses.

On this website you can select on top in the menu bar what category of claim fits you and read about how the settlement is going to treat you. After finding out about the settlement you can fill out the form on the right and get in contact with an attorney that can handle your case.

Medical Claims Gets A New Look

All the claims we have seen over the last 2 years from especially clean up workers and VOO deckhands and captains of VOO boats are getting another look in the BP settlement. People are getting an offer for smaller medical claims that they might have had when cleaning up the oil. Also residents in the affected zones will be able to send claims in for their medical claims that has come as a result of the BP oil spill. All the people that come with claims in the settlement will also get in on the medical monitoring program, this will monitor people for the next 21 years to see what other medical problems comes from peoples exposure from the oil spill.

BP Settlement will be ready in May 2012

Get your oil spill claims in now, the BP settlement fund will open its doors in May 2012, where claims submitted by attorneys will be looked at and paid out according to the final settlement plan submitted to the judge before April 16 2012. The final BP settlement plan will contain maps, multipliers and instructions for the attorneys. This will allow the attorneys to calculate their clients claims and advice them on how to maximize their claim value by submitting claims in all categories they qualify for. Its very important that you have a qualified attorney look at your claim and advice you how to get the most money from your claim. If you are still not represented get with an attorney today by filling out the form on the right this will get you on your way to get paid from the BP Settlement .

 

The Worst Things About The BP Settlement

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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.

BP Settlement

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
  • Banks
  • Casinos
  • 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