The Deepwater Horizon Economic & Property Damages Settlement Program (Settlement Program) opened in June 2012 is winding down. According to the public statistics, more than 390,000 claims were filed in the Settlement Program and more than $11 billion has been paid to claimants. When the last BP claim is processed, the eligible claimants will move on to the Halliburton and Transocean Settlements.
The Halliburton and Transocean Settlement Program will distribute $1,239,750,000 according to the Claims Administrator’s Distribution Model, which was approved by Judge Carl Barbier on Feb. 15, 2017. This model will pay a majority of these funds (72.8 percent) to “New Class” claimants, which includes owners whose property was physically oiled, local governments, entities who opted out of the BP settlement, and those who submitted certain BP claims (coastal wetlands, fishermen, subsistence, and property claims).
The remaining funds will go to “Old Class” members, which include hundreds of thousands of businesses and individuals who previously filed claims and were compensated under the BP settlement. Most payments will be distributed pro rata and will be based on what was received in the BP settlement. If you need additional information on this matter, contact Will Sutton, a lawyer in our firm’s Toxic Torts Section, at 800-898-2034 or by email at William.Sutton@beasleyallen.com.