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June 1, 2015

Don’t Leave Potential Money on the Table – BP’s Economic Claims Period Ends Monday, June 8

by: John A. Baden IV

In just a few days, your chance of recovering any economic losses due to the Deepwater Horizon BP oil spill drops to ZERO. This is it – the final claims deadline for BP’s Economic and Property Damages Settlement. After June 8, 2015, no more claims will be accepted. This deadline applies regardless of whether you own a national chain of big box stores with locations that fall within the settlement agreement criteria or a local Gulf business.

BP promised that they would pay for eligible losses. It’s now up to businesses and individuals to make sure to at least get claims in to be reviewed.

As we approach this final deadline, we have heard from more businesses, large and small, that are interested in filing a claim to make sure they are considered.

As of May 7, 2015, more than $5 billion has been paid to Economic and Property Damages Settlement claimants and more than 113,000 business economic loss claims have been submitted. But if a business doesn’t submit a claim at all, there’s no chance of being compensated through this settlement.

As our firm co-founder Joe Rice discussed in a previous blog, BP has tried to scare away businesses with potential claims through all types of stall tactics, as well as trying to make businesses believe they wouldn’t qualify. The Supreme Court put that to rest by denying hearing BP’s appeals in December 2014.

When BP’s Deepwater Horizon oil rig exploded in the Gulf of Mexico, it caused immediate harm to thousands, and that harm continues to have a lasting impact not only on the Gulf Coast’s ecology, but on its economy, as well. Don’t let your un-submitted claim be just one more thing that BP takes away from the many people and businesses it harmed.

Claims can be filed until June 8, 2015. To learn more about the claims process and to see maps of the specific areas eligible for the Economic and Property Damages Settlement, visit the Deepwater Horizon Claims Center website.