More
than 32,367 individuals and businesses in Alabama have filed claims in a settlement
stemming from a class action lawsuit against BP over its 2010 Gulf of Mexico
oil spill, but many who might qualify
for settlement funds have not yet filed. In fact, thousands of Alabama
individuals and businesses have filed but have not been paid yet.
Of
the claims filed thus far in Alabama, about 9,600 have been declared eligible
and $573 million has been paid to
Alabama claimants. Millions more have been paid to residents of neighboring
states as well. In total, 172,000 claims have been filed in five states, and
claims administrators have paid out more than $3.5 billion.
Businesses
do not have to be located on the Gulf Coast to qualify for payment. An accounting
formula is used to determine if a business lost revenue during the oil spill
period. Businesses must demonstrate that their revenue during three consecutive
months between May and December of 2010 was 15 percent lower than during a
benchmark period from before the oil spill, and that revenue over the same
three month period in 2011 was at least 10 percent higher than during the oil
spill months. Claims must be accompanied by documents including federal tax
returns.
Even
if you think your business was healthy during these time periods, you may still
qualify for the settlement.
As
of today, claimants must file by April 2014. This seems like a long way into
the future, but the close out date is fast approaching. It would be an absolute
mistake not to inquire if you even qualify for a BP payment.
The
BP Deepwater Horizon spill in April of 2010 dumped 5.9 million barrels of oil
into the Gulf, more than 17 times the amount of crude that was spilled by the
wreck of the Exxon Valdez tanker in 1989.
The
attorneys at Pittman, Dutton & Hellums, P.C. are currently investigating BP
claims. If you or someone you know, or represent, owns a business in Alabama, Louisiana,
Mississippi and certain areas of Florida and Texas, you may qualify for a BP
claim payment. Please contact Booth Samuels toll free at 1-866-515-8880 or via
email at booths@pittmandutton.com.
