BP Oil Spill Facts
On June 4, 2012, BP set up a new Settlement Claims Facility called the Deepwater Horizon Court Supervised Settlement Facility. Under this settlement, BP will pay people who qualify under their new protocol and have suffered an economic loss due to the oil spill. How much did BP pay for the oil spill? They paid $2.3 billion to participants in the seafood industry, who satisfied their protocol.
Participation under the new settlement can be quite confusing. Your compensation is based on different zones, where you worked and different rates of pay based on which industry you work in, or on different types of revenue patterns in you are a business.
November 1, 2012, is the Opt Out Deadline. If you Opt Out of the Settlement, you are saying that you do not want to participate in the settlement. You are making the choice, instead, to file an individual lawsuit against BP and other responsible parties for your damages.
How did The BP Oil Spill Happen?
On April 20, 2010, Deepwater Horizon oil rig, operated by BP and owned by Transocean Ltd., exploded in the Gulf of Mexico off the coast of Louisiana resulting in the presumed deaths of 11 offshore drillers and thousands of gallons of oil spilling into the Gulf. The oil rig sank two days later and oil leaked from an undersea well continue to flow into the ocean at an estimated rate of 210,000 gallons per day. The oil spill has had a severe effect on wildlife in the area, including birds and marine life off the coast, resulting in huge losses in the seafood industry and other businesses relying on the Gulf of Mexico.
Were You Affected By the BP Gulf Oil Spill?
Several industries have felt the impact of the Deepwater Horizon oil spill, including the commercial fishing industry in the Gulf of Mexico and those oyster fishermen, shrimpers, and other fishermen who are responsible for 40 percent of the seafood caught in the continental United States. Additionally, as the oil reaches the shore, the tourism industry along the Gulf Coast’s popular beaches may also see an impact from the spill and those businesses may be entitled to damages and profit losses, including hoteliers. Even restaurateurs across the United States can expect to see a spike in seafood prices and possible seafood shortages which in turn affects their revenue stream.
Many businesses and individuals along the Gulf Coast may be eligible for compensation for profit loss, loss wages, and property damage, including:
- Oyster harvesters
- Crab harvesters
- Oil and gas companies in the Gulf of Mexico and along the Gulf Coast
- Beachfront businesses
- Individuals and businesses who experienced property damage
If you or a loved one has experienced loss of business or any other complications due to the BP oil spill, you may be entitled to collect damages. Fill out our free case evaluation form to see if you are eligible for a potential lawsuit. One of our experienced defective products lawyers from New Orleans can assist you in the evaluation process.
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