Introduction to BP Oil Spill Settlement Process
Were you in business at the time of the BP Oil Spill in April, 2010? There is less than a year, until April of 2014, to file a claim in the BPCourt Supervised Settlement. This is the first in a series explaining the settlement.
On April 20, 2010, a blowout, explosion, and fire occurred aboard the Deepwater Horizon, an offshore drilling rig, engaged in drilling activities on the “Macondo Well” off the coast of Louisiana. These events led to eleven deaths, dozens of injuries, and a massive discharge of oil into the Gulf of Mexico that continued for nearly three months.
Hundreds of lawsuits with thousands of claimants involving British Petroleum (BP) were filed. On August 10, 2010, all federal lawsuits related to economic and property damages were centralized in (excluding securities suits) in the US DISTRICT COURT for the EASTERN DISTRICT OF LOUISIANA. The official name of the case: In Re: Oil Spill by the Oil Rig “Deepwater Horizon” in the Gulf of Mexico, on April 20, 2010 (If you have questions regarding eligibility or other details about the settlement, use this contact form.)
Settlement Agreement Approved by Judge Barbier
On December 21, 2012, US District Court Judge Barbier issued an Order approving a settlement agreement, applicable to most businesses in the covered area. The BP Settlement Program applies to all types of businesses, though many that may have claims have not pursued them. The settlement changed who qualifies for economic relief, and how claims are evaluated and compensated for direct or indirect economic losses in 2010.