The BP Settlement Today: Separating Fact from Fiction
April 29, 2015, 5:21 pmTags: Oil Spill
April 29, 2013 – Join FRLA & the Economic Recovery Group for the 2nd webinar on the Deepwater Horizon Oil Spill Settlement. Here’s a summary of what the webinar will cover:
- The BP Settlement Program represents an extraordinary effort to address the damage done to businesses as a result of the BP oil spill in a fair, objective and reasonable manner. To date, BP has paid approximately $1.5 billion and expects to pay an excess of $8.4 billion by the end of the Program. The Settlement Program is schedule to end in just one year – April 22, 2014.
- There is a plethora of moving parts with regards to BP, and nearly every daily news reports about one aspect or another. Between the civil liability trial and BP’s recent appeal with regard to how some claims are calculated, it does get confusing. Don’t let any misunderstanding keep you from pursuing your valid claim. All valid claims will be paid.
- Many business owners assume that their losses have to be directly related to the oil spill to qualify for the class action settlement, but that’s simply not the case. The Settlement Program will direct funds back to businesses that felt the trickle-down effects and saw changes in their revenue.
- An average of 12,000 claims are being filed each month, with the average business economic loss claim value exceeding $200,000.