BP Class Action Claims Assistance
Under the Class Action Settlement, almost any business or individual located within the specified coastal zone is presumed to have been potentially directly or indirectly affected by the oil spill. Under this process, you may file a claim without initiating a lawsuit, and possibly, with no up-front costs.
Qualifying businesses and individuals may receive compensation, regardless of actual facts and circumstances, if certain criteria are met, including:
Location: Economic Loss Zones in the Gulf Coast Areas of Texas, Louisiana, Mississippi, Alabama and Florida.
Type of businesses: almost anything that can prove causation? (below) Only a limited number of businesses are excluded (such as, banking, gaming, and real estate development) from the Class Action settlement.
Causation: any business in Zone A, or businesses in Zone B, C or D that can show qualifying short-term decreases in revenue in the months following the spill.
In theory, the damages are based on the loss of revenue, decrease in variable profit, and loss of potential revenue growth during the eight months following the oil spill in April 2010, as compared the benchmark? period (the most optimal period of comparative months prior to the oil spill, going as far back as 2007).
Actual damages are determined based on an analysis of changes in variable profit as compared to the benchmark period. The agreed-upon calculations are very sophisticated, but formulaic â€“ it is possible to have suffered defined damages, even without a decrease in net income! The calculated damages are increased through multiples assigned to each Zone called Risk Transfer Premiums (RTPs).
Claims submitted and accepted since the settlement agreement was reached in June 2012 have generally been paid within 60-90 days of submission.
How Do I Start?
Contact us Today!Â Initial Causation Assessment Included at No Cost.
Shinn & Company, LLC is not a law firm. We can help you determine your eligibility to file a claim under the class action guidelines and prepare the submission. We cannot assist or provide any legal advice regarding any legal rights you may have in connection with the Deepwater Horizon Oil Spill, including assessing your ability to file a direct lawsuit and / or opt out of the class action settlement.