If you are an individual or business located along the Florida Gulf Coast, you may be entitled to compensation for economic losses in 2010 as part of a class action settlement reached with BP Exploration & Production Inc., and BO America Production Company (“BP”) in relation to the Deepwater Horizon oil spill. The settlement is intended to compensate all economic losses reasonably related to the oil spill.
Although the western Panhandle was the only part of Florida where oil came ashore, the entire Gulf Coast suffered economic damages as prospective tourists stayed away due to the perception of oil-soaked beaches. The massive hit that the tourism industry took trickled down to most all Florida businesses.
As a result of the foregoing, a federal class action lawsuit was filed against BP. An extremely broad settlement was recently reached with BP, pursuant to which most any business in the Panhandle, Gulf Coast or Florida Keys is eligible to participate in the settlement. A business does not have to be associated with the tourism, seafood, or marine industry. Businesses do not need to be on the coast to participate in the settlement. Instead, a business just has to have suffered some economic loss in 2010 and be located in one of the following Florida counties:
Bay, Calhoun, Charlotte, Citrus, Collier, Dixie, Escambia, Franklin, Gadsden, Gulf, Hernando, Hillsborough, Holmes, Jackson, Jefferson, Lee, Leon, Levy, Liberty, Manatee, Monroe, Okaloosa, Pasco, Pinellas, Santa Rosa, Sarasota, Taylor, Wakulla, Walton, and Washington
You must submit a claim to be compensated. If you do nothing, you will not receive any financial benefits from the EP&D Settlement.
Are You Eligible?
In some geographic locations or “zones”, eligibility is presumed. If eligibility is not presumed, eligibility is determined by one of several lost revenue calculations. In order to run these calculations we will need to review your businesses revenue from 2007 through 2011.
What Amount Can I Claim?
It depends on the claim type. As an example, generally an economic damage claim is calculated by comparing actual post-spill earnings to the earnings that might have been expected in the post-spill period. There are also considerations for specialized circumstances, such as start-up businesses and failed businesses.
How Long Until I Am Compensated?
Claims are paid out on a rolling basis and currently take approximately 6 – 12 weeks.
What do I have to pay?
All cases are taken on contingency, which means we do not get paid unless you do.
If you, or someone you know, has been harmed as a result of the BP oil spill, the lawyers of Lieser Skaff Alexander can help you understand your rights. We are ready to help you file your claim.
Are you a Gulf Coast or Florida Keys Business Owner or Sole Proprietor with a Potential Oil Spill Claim? If so, contact our BP lawyers immediately!