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Settlement Reached in BP Litigation

A settlement has been reached that will fully compensate hundreds of thousands of victims of the BP oil spill disaster. The settlement will be fully funded by BP and has no cap on the damages that the company will pay out.

Under the terms of the settlement, BP is obligated to fully satisfy all eligible claims under the terms of the Court supervised settlement. The agreement will resolve the overwhelming majority of claims stemming from the spill, including private economic loss, property damage, and medical injuries that occurred due to the spill or clean-up efforts.

The settlement actually consists of two separate agreements. The first settlement agreement compensates both individuals and businesses for economic losses that are attributed to the oil spill. These damages can include loss of profits, real property losses, loss of subsistence use, and damage to coastal property, wetlands, and personal property.

Even if you have already received payment from the Gulf Coast Claims Facility (GCCF) you may be entitled to additional compensation through the new court supervised program.

Contact us today and let one of our BP oil spill attorneys answer your oil spill claim questions for free.

 

 

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The BP Effect

Todays Poll

How long will it take for the for the Gulf to completely recover?

Economic Loss Claims

The framework of the settlement allows individuals and businesses who have suffered financial losses due to the oils spill to be fully compensated for these losses. The settlement is intended to encompass all economic losses that are reasonably attributable to the oil spill.

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Medical Claims

The medical portion of the settlement will potentially benefit hundreds of thousands of Gulf Coast residents and clean-up workers who have suffered acute or chronic illnesses as a result of exposure to oil or chemical dispersants in the months following the spill.

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Property Owner Claims

The settlement framework allows for property owners and long-term lessees of waterfront property in the areas affected by the spill to be compensated for loss of use and enjoyment of their property, this form of compensation was not previously available to property owners...

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