After a month of unrelenting oil spilling into the Gulf, property owners who rely on rental income from vacationers are suffering losses in the face of numerous cancellations.
MONTGOMERY, ALA. (May 20, 2010) – Beasley, Allen, Crow, Methvin, Portis & Miles, P.C. has filed a class action lawsuit against British Petroleum (“BP”) and several other companies with ties to the Deepwater Horizon oil spill. The firm seeks to represent property owners and rental agencies that have incurred damages related to the disaster, including: real property damages; personal property damages; loss of profits and earning capacity; loss of commercial and subsistence use of natural resources; increased costs of public services; and, loss of revenues.
As oil continues to spew from the undersea well at estimated rates between 5,000 and 60,000 barrels per day, vacationers who rent properties along the Gulf coast are canceling their plans to head to the beach this summer. As a result, property owners are losing revenues that many of them depend on to sustain their income and pay their mortgages, insurance and property taxes.
“Many of these property owners are accustomed to losses sustained from hurricanes and natural disasters, but no one anticipated losing rental income from a manmade disaster of this magnitude,” said firm founding shareholder Jere L. Beasley.” We are working to help ensure their legal rights are protected and that those responsible are held accountable.”
Recent economic estimates say Alabama could see losses of more than $200 million in tourism spending as a result of canceled vacation bookings along the Gulf Coast. The oil spill also comes at what would normally be the beginning of the most profitable time for the Gulf Coast region, which traditionally collects almost 73 percent of its lodging revenues in the second and third quarters (April-September). More than $533 million was spent by tourists along the Alabama Gulf Coast in the 2008-09 fiscal year. Early estimates indicate tourism in the area may be down by 30 to 50 percent this summer.
The suit is filed in federal court in the Southern District of Alabama (1:10-cv-00261) on behalf of plaintiffs Relax on the Beach, Inc. and Sunshine Rentals Enterprises and seeks to represent those individuals and businesses that own, operate and derive income, booking fees, or commissions from rental properties on the Gulf Coast and have suffered damages related to the disaster. The suit alleges negligence and wanton misconduct. Defendants named in the suit are BP, Haliburton, and Cameron International.
Read the complaint.