BP Oil Spill News

BP Oil Spill

Legal Options for Individuals and Businesses

    The BP oil spill that took place when the Deepwater Horizon oil rig exploded in the Gulf of Mexico in April 2010 was one of the biggest in history. Its effect on the individuals, communities and businesses both directly and indirectly impacted by the incident is still felt today, and will continue for years to come.
    In the time period following the incident, individuals and businesses negatively impacted by the BP oil spill have taken varying legal actions to receive just compensation for their losses. Legal action has primarily been taken against defendants BP; Transocean, the company that owned the Deepwater Horizon drilling rig; Halliburton, the well contractor; and Cameron International, the company responsible for manufacturing the blowout preventer mechanism on the oil rig.
    If you or your business have suffered losses due to this incident such as the following, you may qualify for just compensation from BP or one of the other defendants The majority of claims made in connection with the BP oil spill have been consolidated into a multiparty settlement program. The purpose of this act of court-supervised consolidation was to simplify and streamline the claims process for all parties involved.
    Should you as an individual or as a business owner qualify as a plaintiff in connection with this settlement program, it is important to act quickly to determine your best course of action as there is limited time remaining to do so. June 8, 2015, has been established as the deadline to submit a claim in the Economic and Property Damages Settlement.
    BP has established a $20 billion fund that is meant to compensate individual and businesses impacted by the oil spill who participate in this multiparty settlement program. In order to be included in the reimbursement of funds to make up for losses suffered due to the incident, any impacted parties who have not already done so should consult a qualified legal professional to determine if this settlement program is a fit for your situation.
    In the end, the courses of legal recourse that are available to individuals and businesses that have suffered losses as a result of the April 2010 oil spill are varied. The Economic and Property Damages Settlement program may not be the best course of action to take for you or your business. Perhaps an individual lawsuit would be more effective. Many times, the amount of compensation believed to be owed can make a big difference in determining the best path forward. Decisions like these are best made with the professional advice of an experienced attorney.
    Lost individual income and business profits: Many individuals and businesses qualify for payment from a compensation fund set up by BP to compensate for their losses as a result of the oil spill. In addition, many have filed both individual and group lawsuits against BP seeking repayment for their losses.
    The legal team at Gill Ladner and Priest is well versed in this area of the law and is ready and willing to hear your story, so that we can take steps to help you find just compensation for your losses. You can reach us now at 601-352-5700.

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