Updates on the Deepwater Horizon Settlement
The Deepwater Horizon Settlement has been processing BP Claims for two years now. BP has attempted to stop the settlements in court but their motion was defeated with the court ruling in favor of the residents of the Gulf region affected by the 2010 oil spill. While BP claims that the residents of the Gulf are taking advantage of the settlement, it is clearly evident that the damage caused in 2010 is yet to be fully overcome.
The residents of the Gulf of Mexico are still dealing with damage to their property and businesses. Others continue to suffer ill health in regard to this matter. These are the main reasons why the residents continue to seek for Deepwater Horizon Settlements from BP.
Businesses Claiming Deepwater Horizon Settlements
Indeed, the oil spill is not something that can be taken lightly. According to researchers, the state of the ecology of the Gulf of Mexico is imbalanced meaning that something needed to restore balance to a one thriving nature is missing. This factor weighs in heavily on the businesses that rely on it for survival such as the tourism industry and the hospitality industry. These two industries are examples of the major businesses waiting for the Deepwater Horizon Settlements from BP.
Real estate and seafood processing industries have also been greatly affected by the oil spill. Other industries have also been affected, albeit indirectly by the oil spill. The effects are far reaching and it may take quite some time before a reasonable improvement is realized in the affected Gulf Coast of Mexico.
Deepwater Horizon Settlements
Two major Deepwater Horizon settlements were set in place to compensate the victims of the 2010 oil spill: The Economic and Property Damages Settlement and the Medical Benefits Class Action Settlement. These two Deepwater Horizon Settlements cluster the victims into a group that has been affected economically and another that has suffered ill health because of the spillage.
Depending on what effect the spill had on you, you may be eligible to take part in one or both Deepwater Horizon settlements. This means that your business and well-being can be compensated if your claim is eligible.
Events leading to the Deepwater Horizon Settlement
BP has been trying to fight the suit that entails the company’s actions constituted gross negligence and willful misconduct. This lawsuit means that the company is liable to four times the Clean Water Act penalty. Unfortunately for the company, the US Department of Justice filed a paper that described the incident of the spill as grossly negligent and willed misconduct. This puts the company on a hangman’s noose. Transocean, a company that was also associated with the oil rig was also found guilty on the count of gross negligence.
On January 2013, Judge Carl Barbier ruled in favor of the medical-benefits portion that would see BP PLC pay out a proposed $7.8 billion to persons affected directly by the oil spill. These people were those who lived an approximated sixty days along the shore when the spillage occurred and who can show the relationship of their ailments to the oil dispersal method. This would require documentation. Such cases also involved all persons who took part in the clean-up exercise.
In addition to the medical-benefits portion, BP also agreed to set up a more than five year Gulf Coast outreach program that would benefit the residents of the spill area. The program would pay for all medical expenses associated with the spill. The lump sum set aside for the program reached $105 million.
On 31st January 2013, Judge Sarah Vance accepted a plea from the US Government banning BP from federal contracts temporarily. The plea cited a lack of business integrity on the side of BP PLC. In addition to the ban, BP was fined a sum of $4.5 billion in fines and other payments.
A bigger settlement offer has been prepared by the US Government to BP. It is not clear if the company will take up the offer but if it does, then more settlement funding is expected for individuals who have suffered in any way under the oil spill saga.
Qualified Attorneys for the Deepwater Horizon Settlement
If you have been affected by the BP oil spill then you may choose to seek a qualified lawyer to represent you in your claims. Without such legal help, then your legitimate claim may be brushed aside as lacking a legal standing. Finding a qualified attorney to represent you in the ongoing Deepwater Horizon Settlements may be your best bet.
Any initial consultation with an attorney is free of charge. Payment is only due in the event that you receive a payment from the Deepwater Horizon Settlements.
Whether it is your income source, business or livelihood affected by the oil spill, you need not worry if you are represented by an attorney. The attorney will be well prepared for the legal battle and you will receive your maximum compensation in the end. We can also assist you in filing medical claims to the Deepwater Horizon Settlement. There are expert attorneys just waiting for you to contact them. Simply dial 1-800-BP-CLAIM and we can refer you to the best attorney for your case. You can also complete the online form and we will be in touch with you in 24 hours.
The Deepwater Horizon Settlement was set up to help you. Do not hesitate to seek compensation if you have encountered a genuine loss of revenue or loss of the quality of your health as a result of the 2010 oil spill. The Deepwater Horizon Settlements are meant to improve the quality of your life. We are here because of you. Contact us today and let us help you in acquiring your Deepwater Horizon Settlement from BP.