Billions of dollars were set aside by BP Oil to compensate businesses damaged by the explosion of the Deepwater Horizon Oil Platform, and the subsequent oil spill in the Gulf of Mexico. A Tampa business does not need to be in the seafood business, or even on the Gulf Coast to qualify for compensation. Businesses throughout a portion of the state of Florida that show a pattern of lost revenue, during and after the period when the BP oil spill was washing ashore could be eligible for settlements.
Frank Miranda Attorneys at Law said businesses along the Florida Gulf Coast need to check to see if they fit settlement classes that have been established. “Businesses as far away as Naples Florida have the ability to file a claim for compensation,” Miranda said. “Even if they don’t feel they fit the revenue patterns and formula, they need to submit a claim and see what they can get. People in a large part of Florida are eligible to file a claim to recover funds.”
To be eligible, businesses in Florida have to show a pattern of declining revenues both during and after the BP oil spill, but a recovery after that.
“There are going to be a surprising number of businesses that show a pattern of lost revenue,” Miranda said. “It is certain that small economic trends could play into this, but the settlement simply requires that you provide some proof of a trend. It is then assumed that the loss has been caused by the oil spill. If you meet the pattern, then you will get paid.”
A lot of businesses that are eligible simply have not filed yet, and they need to act sooner rather than later. Many businesses in Florida are simply under the impression that a lack of tar balls on their front step will result in denied claims, but this is not the case. The biggest misconceptions continue to be a belief that a business must be on the Gulf Coast, a business must be in the seafood industry or a business must be involved in hospitality and tourism.
The simple truth is that the BP Oil Spill affected business along the entire Gulf Coast, and working with the office of Frank Miranda Attorneys at Law will help you determine if a BP Oil Spill claim for compensation is right for your business.