Were you in business or operating a non-profit during the BP Oil Spill in April, 2010? This is the fifth in a series explaining the Court Supervised Settlement. (For questions regarding your eligibility in the Settlement Program, use this contact form.)
CLAIMS NOT FILED BY THE DEADLINE ARE LOST
Claims must be filed prior to the deadline of April 22, 2014. Claims not filed by that date, barring an extension by the Court, will forever be barred.
SETTLEMENT EXCLUDES CERTAIN INDUSTRIES
Most industries are eligible under the settlement, but some are excluded. However, a business in an excluded industry may have parts of its business separate from the total business and still have a claim. The list of exclusions:
- certain financial institutions
- gaming businesses (casinos, etc.)
- insurance entities, investment funds and financial vehicles
- defense contractors
- governmental entities
- any entity selling or marketing BP-branded fuel
- certain oil and gas concerns
- real estate developers
- businesses which released their claims through the Gulf Coast Claims Facility (GCCF)
BP ran the GCCF considering claims for oil spill damages. It is closed and no new claims can be filed through GCCF. Parties that did not sign a final GCCF release before February 27, 2012 and those denied by GCCF can participate in the Court Supervised Settlement.
BUSINESSES THAT WERE DOWN FOR ALL OR PART OF 2010 MAY BE ELIGIBLE
The settlement contains provisions for businesses that did not operate through all of 2010. There are provisions for Failed Business Losses and Failed Start-Up Business Losses. These have complex qualification rules, but some qualify. There is no cost to inquire about your eligibility at this link.