Court-embattled BP is beginning to question the way in which the independent claims administrator is interpreting various business damage settlement claims over the 2010 oil spill in the Gulf of Mexico.
According to court administrator Patrick Juneau, BP has notified plaintiffs’ lawyers via email that they are putting business economic loss claims in the categories of agriculture, construction, and professional services on hold.
In April 2012, BP agreed to pay a settlement cost of $7.8 billion to a group of individual parties as compensation for the damages caused by the oil spill. However, cost estimates to cover these damages have recently ballooned to $8.5 billion, prompting this stay on the claims by BP.
U.S. District Judge Carl Babier approved the original claim last December and upheld the new cost estimates last month, saying that the claim is calculated based on a formula that disregards whether the losses were from the spill or were not directly caused by the accident.
Unfortunately, many people with legitimate claims related to the BP oil spill are not being adequately compensated for their losses. Whether you need help with an appeal or an initial claim, our lawyers at Williams Kherkher can help. Call 800-821-1544 today to find out what we can do to help you through this process.