It has been a long and difficult road for those impacted by the horrific oil spill accident that took place in the Gulf of Mexico back in April of 2010. At that time the Deepwater Horizon, an oil drilling platform being leased by BP Oil Company from Transocean, experienced a massive explosion caused by a surge of methane gas that rose from the oil well located a mile below the water’s surface.
The force of the explosion killed eleven oil rig workers and set off a fire that burned for three days and nights, and at the end of the conflagration when the entire rig finally sank to the bottom of the sea, it became apparent that the nightmare was only just beginning.
An oil slick was spreading quickly across the water’s surface, and it was soon evident that crude was gushing from the broken oil head at an unprecedented rate, with tens of thousands of gallons escaping daily, polluting the pristine waters of the Gulf and threatening the region’s wildlife, its seafood industry, tourism, and the homes and coastlines for miles around.
The spill ended up being the worst to ever take place in American waters, eclipsing the previous record holder. It took nearly three months to close the open wound in the ocean’s bottom, and the damage that was done in that period of time will take generations to undo.
Investigations into the accident showed that BP and Transocean both bore responsibility for the accident, and for those who were damaged by the spill economically and medically, the Justice Department reached a settlement agreement with BP that allowed for standardized reparations to be paid, and after a long waiting period the preliminary approval that was granted in 2012 was finalized.
The settlement agreement is split into two different categories which are titled the Deepwater Horizon Economic Settlement Agreement and the Deepwater Horizon Medical Settlement Agreement. Both are being supervised by a court-appointed administrator who has strict guidelines and formulas to follow when providing compensation to victims.
Deepwater Horizon Economic Settlement Agreement
The economic settlement agreement is structured to provide for a variety of classes of individuals, businesses and property owners that are able to show that they were hurt financially by the impact of the oil spill.
Each of the different classes have a different BP claim form to fill out, and the formula that is applied to determine the amount of compensation that the claimant will receive from the settlement utilizes the amount of loss that they are able to show that they suffered and their geographic location in relation to the actual spill. Different victims are compensated to different degrees, and there is no limit on the amount of compensation that the total settlement may pay out when all claims have been received and processed.
The only limitation that has been placed on the settlement agreement is related to those who work in the seafood industry. Their total payout is limited, as is the amount of time that they have in which to file their claim. Although some have been satisfied with the amount of compensation that they have been offered through the settlement process and have accepted it, all parties to the spill are able to choose not to accept the offer that is the result of the settlement process formula and to pursue an individual claim on their own.
In both cases, it is highly recommended that you have your individual situation reviewed by an attorney who has a comprehensive understanding of the process and of the ramifications of filing a claim through the settlement sites; the forms can be complicated and making a mistake can have a very big impact on the amount of compensation you receive.
Hiring a Qualified BP Claims Attorney
The law firm of Danziger and De Llano is made up of qualified, experienced, dedicated trial attorneys who have made it their mission to work on behalf of those damaged by the negligence of the BP Oil Company and to see to it that all those who suffered losses are made whole again.
If you suffered economic losses as a result of the Deepwater Horizon disaster, whether as a result of losing your employment, suffering losses in your business, or due to damage done to your property, we stand ready to listen to the particulars of your case and guide you throughout the entire process.
We are fully familiar with the claims process and will ensure that, should you choose to file a BP claim through the court-supervised process, your claim forms are prepared properly and all of the proper documentation is included in order to assure a smooth and speedy response. Should you feel that the court-supervised process does not provide you with adequate compensation, we have the resources to represent you in an individual claim against BP.
- Former Halliburton Manager Sentenced for Destroying Evidence linked to BP Oil Spill
- BP Tries to Stop Oil Spill Payments, Claiming Fraud
- BP Oil Spill Payments Suspended Temporarily
- Court Trial to Begin for Ex-BP Engineer Charged with Destroying Gulf Oil Spill Evidence
- Livonia Man Gets Prison Sentence for Defrauding BP’s Oil Spill Compensation Fund
Keep current with all the latest BP Claim News
We are here to answer any of your questions you may have. Call us at 1-866-222-9990 or request a FREE no obligation legal consultation today.