Do you own a business in Louisiana, Mississippi, Alabama or along the Florida Gulf Coast? If you answered in the affirmative, your business may be covered by BP economic and property damages settlement. The settlement was designed to compensate businesses for economic losses stemming from the Deepwater Horizon explosion and the subsequent oil spill.
Does my business qualify for a business BP oil spill claim?
The BP economic and property damages settlement gives every business in Zone A the benefit of a “no causation” standard. This means that a business in Zone A will not have to prove economic losses in 2010 following the BP oil spill. The standard of “no causation” is not limited to Zone A, because certain businesses in Zone B will fall under the “no causation” standards, and will not need to prove their economic losses in 2010 following the explosion of the Deepwater Horizon oil drilling platform. Examples of businesses falling outside of Zone A, but still under the “no causation” standards include restaurants, hotels and shops frequented by tourists.
Does my business even qualify for a BP oil spill claim?
The simple fact is that any business that business that suffered property damage or economic losses as a result of the Deepwater Horizon oil spill is eligible to file a claim. Here are a few examples:
- Service businesses, such as insurance.
- Any business that was forced to close due to the BP oil spill.
- Businesses that sold products in the affected areas and suffered losses.
- Anyone who owned property that was damaged as a result of the BP oil spill.
- Anyone in specified areas whose real estate holdings suffered a decrease in price because of oil spill.
These are just a few examples of the kinds of businesses that are eligible to take part in the settlement agreement that was approved by the courts. The best way to find out if your business is eligible is to consult with the experts from Frank Miranda Attorneys at Law. Call us today at 813.254.2637 and let us determine if you qualify to file a claim for damages before the April 2014 deadline.