BP claims may be filed by many more businesses than previously thought

BP claims administered by Kenneth Feinberg through the Gulf Coast Claims Facility were a disappointment to both businesses and individuals located near the Gulf Coast. Although Feinberg jetted all over the Gulf Coast area, most people who filed BP claims found that Feinberg did not deliver on his promise to pay BP claims quickly and fairly.

Fortunately, Feinberg has been replaced by a BP settlement process approved in a BP class action by Judge Carl Barbier in December. To the surprise of many businesses, many more businesses are eligible to file BP claims than many had expected.

BP claims news can be found at BP Oil News and BP Claims Report.

The BP Settlement creates zones in which any business can file a BP claim if the business had a significant decline in general revenues during the time of the BP oil spill in 2010. Because it is widely understood that the oil spill impacted businesses far from the Gulf Coast, the BP settlement sets up zones within which any business of any type is eligible to file a claim. Those zones include the entire states of Alabama, Mississippi, Louisiana and the West Coast of Florida all the way south to Key West.

Thus a North Alabama construction company could file a BP claim if it suffered a significant decrease in gross revenues in 2010 and the saw a rebound of revenues in 2011. The claims process is complicated, and the attorneys who sponsor the YouTube channel and websites listed in this article are working with accountants to help take the burden of the BP claims process off the shoulders of business men and women. This legal assistance is available free of charge, with a fee being paid only if the business collects on its BP claim.

There is also a BPSettlementHelp YouTube channel and a BP settlement Help website that allows people to contact lawyers for a free legal review of their potential BP claims.

All businesses of any type which are located in one of the settlement zones may be able to qualify to file BP claims, and receive payment from the BP settlement. Businesses don’t have to prove that they lost revenues due to the BP oil spill; they simply need to have financial records proving a significant decrease in revenues during 2010, and certain other criteria regarding their revenues in 2011.

Although BP claims for contractors and certain other businesses have been delayed by BP’s efforts to change the process, the Court recently entered an order which should speed up the payment of claims.