More than 172,000 individuals and businesses have filed BP Oil Spill claims against BP over its 2010 Gulf of Mexico oil spill, but many who might qualify for settlement funds have not yet filed. Fund administrators and accountants indicate that there are thousands of businesses in states adversely effected by the BP Oil Spill that have failed to file a BP Oil Spill claim on their own behalf. Many businesses have mistakenly believed that they must be located along the Gulf Coast to qualify, it is suggested that owners of such businesses take a closer look at the terms of the settlement
In total, 172,000 BP Oil Spill claims have been filed in five states, resulting in settlements of $3.5 billion.
To qualify for BP Oil Spill settlement funds, a businesses must use a system designed specifically for the case to demonstrate that they lost revenue to the oil spill. A businesses must be able demonstrate that revenue during three consecutive months between May and December of 2010 was fifteen percent lower than during a standard period before the Deepwater Horizon Oil Drilling Platform explosion, and that revenue over the same three month period in 2011 was a minimum of ten percent higher than during the oil spill months.
All business BP Oil Spill claims must be accompanied by documents including federal tax returns. The current window for business claims covered by the deal will close in April of 2014.
It is a mistake to leave settlement money on the table in light of a disaster which dumped 5.9 million barrels of oil into the Gulf of Mexico.
The office of Frank Miranda Attorneys at Law can help you file your business BP Oil Spill claim for compensation. Call 813.254.2637 to schedule a consultation regarding your business BP Oil Spill Claim.