If you have economic loss or property damage because of the Deepwater Horizon oil spill, you could get money from a class action settlement with BP Exploration & Production Inc. and BP America Production Company (“BP”).
Who is Included in the Economic and Property Damages Settlement?
The Economic and Property Damages (“E&PD”) Settlement Class includes people, businesses, and other entities in the states of Louisiana, Alabama and Mississippi, and certain counties in Texas and Florida, that were harmed by the oil spill. The website has detailed descriptions and maps to help you determine whether a geographic location may be included in the E&PD Settlement. Additionally, you can call 1-866-992-6174 or e-mail [email protected] to find out if a geographic location is included.
The Deepwater Horizon Economic Damages Settlement Claim was preliminarily approved by the Court on May 2, 2012. By the terms of the settlement, BP has agreed that almost all businesses in Mississippi were affected at least indirectly. The claims process, which is completely confidential, determines qualification using an 18-point test on consecutive three-month periods from May-December, 2010, comparing those same three months in the preceding one, two, or three years (2007-2009), and then the same period in 2011. The business must show a decline in gross revenue in the 2010 months of at least 15% from the prior year or years, and then a subsequent 10% increase for the same time in 2011. The months DO NOT all have to meet the criteria, but rather the average of the months is what counts. The best way to determine whether a business qualifies is not to guess, but to just fill out a 60-month gross revenue chart and run the test using the computer model.
Who is Included in the Economic and Property Damages Settlement?
The Economic and Property Damages (“E&PD”) Settlement Class includes people, businesses, and other entities in the states of Louisiana, Alabama and Mississippi, and certain counties in Texas and Florida, that were harmed by the oil spill. The website has detailed descriptions and maps to help you determine whether a geographic location may be included in the E&PD Settlement. Additionally, you can call 1-866-992-6174 or e-mail [email protected] to find out if a geographic location is included.
The Deepwater Horizon Economic Damages Settlement Claim was preliminarily approved by the Court on May 2, 2012. By the terms of the settlement, BP has agreed that almost all businesses in Mississippi were affected at least indirectly. The claims process, which is completely confidential, determines qualification using an 18-point test on consecutive three-month periods from May-December, 2010, comparing those same three months in the preceding one, two, or three years (2007-2009), and then the same period in 2011. The business must show a decline in gross revenue in the 2010 months of at least 15% from the prior year or years, and then a subsequent 10% increase for the same time in 2011. The months DO NOT all have to meet the criteria, but rather the average of the months is what counts. The best way to determine whether a business qualifies is not to guess, but to just fill out a 60-month gross revenue chart and run the test using the computer model.