YOUR BUSINESS LIKELY HAS A CLAIM AGAINST BP for the Deepwater Horizon Explosion Oil Spill. According to the settlement program, just about every business in the states of Mississippi, Louisiana, and Alabama, and the coastal counties from Beaumont, Texas, all the way to Key West, Florida, is in the settled class.
Certain industries are excluded: financial institutions, casinos and racetracks, the oil and gas industry, insurance companies, defense contractors and governments.
1. We can help you evaluate whether your business can satisfy one of many causation tests. This is mostly an accounting function. There are several different causation tests and many more ways to pass each test.
2. There are several different causation tests based on gross revenues and where your business offices are located. Business closest to the coast may have easier tests, but there is a mathematical test for every business in the class. it is important that you provide us with your MONTHLY revenue statements for the years 2007-2011.
3. If your business can meet any causation test, you will need to provide us with your MONTHLY Profit & Loss Statements (P&Ls) for the years 2007-2011, and your damages will be calculated under an agreed formula that seeks to find the amount of the business’ economic loss. Depending on the type of business and location, the agreed damages are subject to an enhancement of at least 25%.
Your business’ financial information will be kept confidential.
Please call the BP Oil Spill lawyers at Kobs & Philley, PLLC, for a free consultation (601) 856-7800.