On Monday, a federal appeals court in New Orleans heard arguments from BP over what the oil giant alleges is an ongoing misinterpretation of last year’s multidistrict lawsuit settlement stemming from the 2010 Gulf of Mexico oil spill. BP asserts that thousands of exaggerated or fictitious claims have been approved by the court-appointed administrator, which could end up costing the company approximately double the $7.8 billion it estimated would be required to resolve claims from Gulf Coast business owners and property owners impacted by the worst offshore oil spill in U.S. history. BP has already lost previous appeals over the matter, and the presiding appellate court judges expressed skepticism over BP’s buyer’s remorse to the settlement agreement, the terms of which attorneys for the company helped craft and ultimately agreed to. “It seems to me something you gave up,” Justice James L. Dennis said to BP attorney Ted Olson in the hearing. “The agreement defines what is a lost profit in a particular way, and you had a chance not to agree to that. How can we go beyond the four corners of the agreement?” In fact, many business owners and property owners who suffered revenue loss or diminution of property value in the aftermath of the Gulf oil spill and are eligible to file claims have yet to do so. The Mobile oil spill attorneys at Long & Long have a proven record of success helping those who own businesses or properties in Alabama, Mississippi, Florida and Louisiana file oil spill settlement claims. Our lawyers are currently evaluating claims related to:
The time to file a claim under the terms of the settlement is limited. If you suffered business income loss or diminished property value in the wake of the 2010 Gulf of Mexico oil spill and have not yet filed a claim, please contact Long & Long online or call us at 251-432-2277 for your free claim evaluation.