Business Economic Loss Claims — Our Bread and Butter
By far the most common claim we handle is the Business Economic Loss claim (“BEL Claim”). To date, we have successfully recovered over $125 million on behalf of about 500 BEL claimants. According to public information, we have the highest average claim payment of any firm in the country. We are extremely proud of our track-record, and attribute much of our success to having great clients. Because we represent successful small business owners with good financial records, we are able to avoid the pitfalls associated with representing frivolous claimants.
Together with our CPA firm, we have developed sophisticated and proprietary software tools that allow us to quickly and accurately calculate BEL claims using the exact same formulas employed by the Deepwater Horizon Claims Center. In fact, our accounting firm helped the DHCC create these tools. Our proprietary claim package was the product of several months of work and research, and ensures that the DHCC claim adjustors can quickly and efficiently access information. Our CPA firm does tax and audit work for some of the biggest companies in the Southwest, so the DHCC and BP knows that our claims packages are accurate and reliable.
To date, less than 1% of our DHCC claims have been denied. Other firms brag about the amount of claims they have filed, we focus on getting Eligibility Notices and Final Payments for our clients. In the last 5 weeks we have received over $15 million in Eligibility Notices on behalf of about 50 claimants. The average time from claim filing to payment is about 100 days. The offers we do receive are nearly identical to the amounts calculated by our CPA firm.
Contact the oil spill economic impact lawyers of Williams Kherkher today at 800-821-1544 to discuss your case.
Start-Up Businesses, Failed Businesses, and Failed Start-Ups
The Class Action settlement has different claim forms and rules for each of these claim types. There are different causation rules for each of these claim types. In many instances, a claim can be worth 10x more as a regular Business Economic Loss claim than a Failed Business Claim. Having experienced lawyers and CPAs who understand these issues can make the difference between a denied claim and fair compensation.
Multi-Location Business Claims
What about a business that has several locations? Should they file one claim based on a consolidated financial statement, a separate claim for each location? The answer depends on what approach is better for the client. In order to make this decision, you need a team of lawyers and CPAs that can tell you the pros and cons of each approach.
We have clients ranging from Fortune 50 companies to individual realtors and boat captains. We represent churches and charitable foundations. Any business or charity located in a loss zone has a potential Oil Spill claim. Some of the industries affected by the spill include:
- Shrimping and oyster farming
- Commercial fishing
- Property Owners
- Boat Operators
- Dock and Marina Operators
To learn more about the wide-ranging economic effects of the Gulf Coast oil spill and how you can initiate a lawsuit to fight for compensation for your financial losses, contact the Gulf of Mexico oil spill lawyers of Williams Kherkher today at 800-821-1544.