Last Chance for BP Claims: The Looming Deadline

The last chance to file business and condominium claims for the epic BP spill is coming near. The deadline for filing is June 8, 2015. BP’s efforts to petition the Supreme Court to rule on a broad interpretation of who should be compensated for losses in the wake of the Deepwater Horizon oil spill disaster in the Gulf of Mexico ended in December when the court declined to hear the case. That set up the deadline for filing.

The oil spill had a regional effect on our economy that many businesses and individuals who own condos don’t realize, even now. From the lack of travelers passing through gas stations, hotels, retail stores, and restaurants coming to the Florida and Alabama beaches, the effects on the Gulf region reached every part of both states. If a business suffered a loss after the April 2010 oil spill compared to prior years, there is an objective formula that will determine whether or not it is entitled to a claim and, if so, its level of compensation.

Every business in Florida and Alabama has a potential claim that needs to be reviewed as soon as possible to get a claim filed within the dwindling time window for making the claim. Even companies in other states that have physical locations in Florida and Alabama are potential claimants. And beachfront property owners who sold their property from May through December 2010 may also have significant claims. They should not be forgotten. These claims are too important to ignore if you are a business owner or sold beachfront property. Average business claims have been about $300,000, and a rough average for condo claims has been $7,500.

Remember the deadline, June 8, less than 3 months from now. Don’t let is pass if you have been damaged. A settlement fund, already established, is available to pay for legitimate losses.