A proposed settlement between BP and businesses and individuals impacted by the 2010 Gulf of Mexico oil spill is awaiting approval by a judge, but the Gulf Coast Ecosystem Restoration Council has announced tentative plans for how it will disperse civil penalties stemming from BP’s federal court trial, which is scheduled to begin Feb. 25. Led by U.S. Secretary of Commerce Rebecca Blank, the Gulf Coast Ecosystem Restoration Council was created under the Restore Act and is tasked in part with designating some civil penalties paid by BP to Gulf Coast restoration efforts. In addition to Secretary Blank and the governors from the Gulf Coast states, the group includes officials from various federal and Gulf Coast state agencies. Although the council is not sure how much money it will have to work with, the Restore Act established some guidelines for the distribution of penalties, including that 35 percent of the money be equally divided among Alabama, Louisiana, Mississippi, Florida and Texas for ecological and economic restoration efforts. Meanwhile, the Mobile, Alabama, oil spill attorneys at Long & Long continue to investigate claims related to the 2010 BP oil spill in the Gulf of Mexico. We are currently evaluating potential claims related to:
- Business economic losses
- Loss of property use and diminution of property value
- Vessels of Opportunity (VOO)
Time to seek compensation for damages related to the 2010 Gulf of Mexico oil spill is limited. Please contact Long & Long for your free case consultation as soon as possible if you suffered financial harm or diminished property value as a result of the BP Gulf of Mexico oil spill.