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BP Settlement Program Ramps Payments Back Up to Deserving Businesses

Almost a month ago, on May 28th, 2014 the 5th Circuit Court of Appeals issued its Mandate directing that the Stay on payments to businesses under the BP class action Settlement Program be vacated.  Since that time, the Program, administered by Court-appointed Administrator Patrick Juneau, has steadily begun to make offers and pay claims to businesses that meet the Program’s objective criteria as agreed upon by BP.  Since that date, the Program has paid 512 Business Economic Loss (BEL) claims for a total of $37,101,031to businesses.  Nearly $3.9 billion has been paid in total to date.

Additionally, with a six month extension to the claim filing deadline in effect, there is still time for the hundreds of thousands of eligible businesses who have not yet filed to do so.  The Program was always intended to compensate those businesses impacted directly or indirectly by the April 20th, 2010 oil spill.  Any businesses that have not yet been evaluated should make the effort to do so without delay to ensure the good intentions of the Program can be fully realized.

 

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