Filing for BP Settlement Business Claims
Businesses who were affected by the Deepwater Horizon Oil Spill in 2010 or would like to find out if they are eligible under the Deepwater Horizon Econominic Settlement should contact us as soon as possible, as there is only a limited amount of time left before the deadline passes. For more detailed information regarding the oil spill, BP settlement Business Claims, and what industries are eligible to file, see below.
What is the Deepwater Horizon Oil Spill?
The Deepwater Horizon Oil Spill refers to the disaster that happened in the Gulf of Mexico, specifically on the BP-operated MC252 Well on the day of April 20, 2010. An explosion occurred on the oil rig due to the methane gas that collected into the drilling rig. Two days after the blast, the rig sunk and oil was released. Total discharge on MC252 was estimated at a massive amount of 4.9 million barrels. A total of 126 crew members were on board, and about 11 were never found after a rigorous search operation. After BP’s several tries to contain the oil spill, the well was only successfully sealed on September 19, 2010. During the 4 months of spill, wide-spread damage occurred throughout the marine habitat and environment. The tourism industry was one of the industries that was the most vastly effected, but the damage went much further than that.
What are the BP Settlement Business Claims for Economic and Property Damages?
Originally approved on December 21, 2010, this settlement is geared towards resolving economic loss due to the Deepwater Horizon Oil Spill. Owners are covered on the BP Settlement Business claims if they fall into one of the following categories:
-Coastal Real Property Damage
-Loss of Subsistence
-Real Property Sales Damage
-Vessel Physical Damage
-Vessels of Opportunity Charter Payment
-Wetlands Real Property Damage
To qualify for a claim, the businesses physical address must fall within one of the zones specified by BP. All businesses that are located in the affected states and which fall under the categories mentioned above can file their claims. Unless the business falls within Zone A, they will need to pass causation. Causation can be be proven by passing the V-shaped revenue test.
The rights for an Economic and Property Damages Settlement are affected depending on the steps that you have undertaken regarding your BP Settlement Business Claim. A business could:
-Submit a claim form, and request payment.
-Exclude themselves from the settlement (opting out), and give them the option to file their own lawsuit against BP.
-Object, and write to the court the reasons on why they don’t like the settlement.
-Go to a Fairness Hearing if you wish to discuss the fairness of the settlement in court.
-Do nothing and get no BP Settlement Business Claims.
Is it too late to file for BP settlement business claims?
It is not too late to file a claim. If you are interested in filing a BP Business Claim Settlement and would like to see if you qualify under the guidelines of the settlement, complete the confidential form on this page for a free assessment. The form would determine if you are eligible through a quick assessment. Help for your BP settlement business claim is just a click away.
For more information on BP Claims settlements please visit our news site.