The recently announced BP settlement has prompted numerous questions. Many companies, landowners and professionals understandably have queries regarding their eligibility to participate in programs that compensate for economic losses and property damage.
The economic loss and property damage formulas are complicated, but they revolve around the classification and location of the business or property in certain “zones” in which causation may be easily proven or even presumed without evidence of legal causation. Although certain oil and gas companies and moratoria-related losses are exempt from the BP spill settlement, companies may find that the right to recover from the settlement fund exists even though you may not have previously thought the loss was a result of the Deepwater Horizon oil spill.
If you believe that you or your company may have experienced any decline in revenue, or if your property received oil from the spill or the resulting cleanup, contact Baldwin Haspel Burke & Mayer. Experienced attorneys are ready to assist you in answering any questions that you may have.