BP Oil Spill Settlement

The federal court overseeing the BP Oil Spill Litigation in New Orleans approved a settlement to pay claims,  including those of businesses who submit qualifying economic loss claims.  The Gulf Coast Claims Facility (GCCF) has closed its doors and the Deepwater Horizon Economic and Property Damage Settlement Claims Program is processing claims.

If your BP claim has been denied by the GCCF, if you need help with an existing claim, or if your business has been impacted by the BP oil spill, it is not too late to file a claim.  For a free consultation and information about about whether you have a potential claim or to receive assistance with an existing claim, please contact our team at Pendley, Baudin & Coffin, LLP by filling out the Contact Information (BP Questionnaire) below or by calling our toll free number:  1-888-725-2477.  Our team will then contact you to assess your eligibility.

WHO MAY BE ELIGIBLE TO SUBMIT A CLAIM UNDER THE SETTLEMENT?

 You may be eligible to receive monetary compensation through the economic and property damage settlement program if you have been damaged by the Deepwater Horizon oil spill in one or more of the following categories:

• Seafood Compensation
• Business Related Economic Damage  (Click here to see some listed businesses: Tourism)
• Loss of Subsistence
• Vessel Physical Damage
• Vessels of Opportunity (VOO) Charter Payment
• Coastal Real Property Damage
• Wetlands Real Property Damage
• Real Property Sales Damage

Our team is accepting BP oil spill related business economic loss damage claims from potential clients, including but not limited to the following general categories:

•  Seafood-Related Businesses
•  Gas Stations and Convenience Stores
•  Restaurants and Bars
•  Hotels and Motels
•  Tourism-Related Businesses
•  Recreational Businesses
•  Clothing, Department and Sporting Goods Stores

To qualify in the settlement, the majority of businesses need only show that their gross revenues for three consecutive months between May and December 2010 diminished 15% as compared to the same months in either 2009, the average of 2008-2009, or the average of 2007-2009, and that they increased by 10% for the same months in 2011.  Importantly, outside of what the settlement methodology requires, a business is not required to draw a connection between the oil spill and their drop in revenues.

DOES THE LOCATION OF MY BUSINESS AFFECT MY POTENTIAL CLAIM?

As long as your business is located in the geographic areas or "Zones" identified in the map below, you may have an eligible claim under the settlement:

WHAT IS THE VALUE OF MY POTENTIAL ECONOMIC LOSS CLAIM?

The method of calculating the amount of business loss under this settlement is unique in that the claimant defines their own compensation period.   A claimant can choose any three or more consecutive months between May and December 2010 as their compensation period (post-spill period).    A claimant then chooses a Benchmark Period of the same three or more consecutive months in prior year(s),  including the most favorable of the following time periods, against which to measure 2010 performance (pre-spill period):

• 2009
• Average of 2008 and 2009
• Average of 2007, 2008, and 2009

MULTIPLIER - An RTP multiplier will be applied to the payments for some types of Economic Damage claims, which could significantly increase the value of your potential claim.  Please contact us to discuss your multiplier that may apply to your claim.

Pendley, Baudin & Coffin has attorneys and has retained other professionals who will assist in evaluating and processing your claim.   Our team gets paid legal fees only if we are successful in recovering compensation for you.  Please fill out the CONTACT US button below.