As of June 26th, BP has released a string of advertisements intended to dissuade potential claimants from pursuing evaluation under the Deepwater Horizon Settlement Program. With full-page ads appearing in three of the country’s most read newspapers, The New York Times, The Wall Street Journal, and the Washington Post, BP is hoping to deter what could be billions in settlement payouts above what was originally anticipated.
Last week, before an appeals court, BP argued that the claims process they formerly agreed to is being misinterpreted, putting the company at risk for financial devastation, and even potential buyout.
Plaintiff’s lawyers believe BP simply underestimated the amount that would be paid to businesses over the course of the Program. The Fifth Circuit Court of Appeals has denied BP’s appeals in the past, and the Settlement Program currently remains intact as originally intended. While experts do not believe BP will find success in their appeal, we may hear a final verdict as soon as early next week.
Every single business in a claim zone should be evaluated. There is no cost associated with being evaluated, and there is no way to determine if a business meets causation unless a full evaluation is completed. There are over 60 ways a business can prove they suffered financially after the spill.
As of July 15th, BP has paid over $2.8 billion in recovery funds through the Deepwater Horizon Settlement Program. Of those, almost 7,000 are business economic loss claims.