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BP Oil Spill settlement open to any business in Alabama

posted on:
October 5, 2012

category:
BP Oil Spill

Thousands of businesses and individuals throughout Alabama, even those not located directly along the Gulf Coast, were negatively impacted by the April 2010 BP Oil Spill. On tonight’s edition of The Beasley Allen Report, host Gibson Vance welcomes Beasley Allen shareholder Rhon Jones to provide an update on the claims process. Jones serves on the Plaintiffs’ Steering Committee for the consolidated multidistrict litigation, which reached a Settlement in Principle in March. Since the new court-supervised claims center opened in June, thousands of people are finding relief for economic losses suffered as a result of the disastrous oil spill, which impacted economic health and growth. “One of the things we’re seeing quite frequently is businesses that do not realize a dip income in 2010 might be related to the Gulf oil spill,” Jones said. But, under the class settlement, these businesses may be eligible for compensation. Jones says there are five different ways to qualify for compensation, largely revenue-based, from 2007-2011. He discusses the formula to determine if someone may qualify, and provides examples of businesses that have received settlements.

Courtesy of: Beasley Allen Report

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