Although thousands of businesses and individuals have opted out of the proposed settlement over claims stemming from BP’s 2010 Gulf of Mexico oil spill, attorneys representing the large plaintiffs’ group said they do not believe the number will be enough to derail the deal. As of Nov. 1, about 2,300 potential plaintiffs had requested to opt out. The final number of opt-out requests should be known this week. According to the terms of the proposed settlement, BP has the right to terminate the offer if an undisclosed number of individuals and businesses back out. BP has estimated it will pay nearly $8 billion to resolve claims through the proposed settlement. A number of the opt-out requests are thought to have come from people who aren’t actually eligible for the settlement. A fairness hearing on the matter is scheduled for Nov. 8. In the meantime, the Mobile, Alabama, attorneys at Long & Long continue to investigate claims related to the worst offshore oil spill in U.S. history, including those stemming from:
- Income loss of more than $300,000 in gross revenue
- Diminished property value caused by the oil spill
- Vessels of Opportunity (VOO) lack of payment
If you suffered financial harm or property damage caused by the BP oil spill, please contact Long & Long for your free case consultation. The time to seek financial compensation for damages from the oil spill is limited.