Join the BP Class Action / $7.8 Billion Set Aside
US Federal Judge Carl Barbier signed an order which closes the GCCF down and creates a new $7.8 billion settlement mechanism supervised by the court to pay those hurt by the BP oil spill. The new class will cover the following groups:
1. Individual or businesses that had an economic loss.
2. Damage to waterfront property on the beach or wetland areas.
3. Loss of value to anyone that sold a Gulf Coast waterfront residence from May 1, 2010 to December 31, 2010
4. Vessels of Opportunity Charter Claims.
5. Seafood Harvesting Losses
The class action settlement excluded financial institutions, casinos, racetracks, oil and gas industry, insurance, defense contractors, government claims and losses caused by the government imposed moratorium.
Settlements Paid on a First In, First Out Basis
Unlike the GCCF, under the new settlement claimants will know up front the formulas and methodology used to evaluate claims. We believe this will result in claims being paid faster with fairer settlement offers being made. Please note that claims will be paid on a first in first out basis – so it important that you file your claim as soon as possible and not be at the end of the line. We can help work to ensure your claim is timely filed in the correct format. Please complete the online form.
Part of the $7.8 Billion is $2.3 Billion that will be used to compensate commercial fishing vessel owners, captains, deckhands and oyster leaseholders and harvesters. This amount does not include processing use or the subsequent sale of seafood.
Real Estate, Coastal and Wetland Property Damage Claims
The following property owners can make claims now:
• Any coastal property owner who sold property between April 20, 2010 to April 2012.
• Owners of coastal real property whose property was damaged by the oil spill or the oil spill clean up. This includes condominium units owners, boat slips owners and those who have leases.
• Wetland owners who owned property between April 20, 2010 to April 2012.
Vessels of Opportunity
All vessel owners who executed a Vessel of Opportunity Charter Agreement and completed the initial training can claim for damages they have incurred.