BP BUSINESS SETTLEMENTS

Posted on Monday, October 29, 2012

  • 29
  • October
    2012

Businesses Affected by BP Spill: Approaching Deadlines Could Threaten Compensation

Provost Umphrey Attorneys Open Free Call Center to Help Southeast Texas Business Owners Evaluate Claims

October 29, 2012: Beaumont. Texas: The deadline to opt out of the Economic Loss Settlement to reclaim financial losses suffered in the 2010 BP Oil Spill, is November 1. If business owners qualify as an Economic Class member, but do not want to participate in the settlement, they must opt-out by the November deadline.

Business owners should only opt-out from the settlement program IF they are able to establish that there loss was directly caused by the April 2010 oil spill or if they have determined that their claim will not be successful under the Settlement Claim process.

The court-ordered settlement agreement with British Petroleum requires the oil company to compensate business owners who can show a drop in gross revenues after the spill, as compared to previous years, followed by a modest rebound in 2011.* The great advantage under the Settlement - NO evidence of how or if the spill caused your loss is required.

Business owners may call the Provost Umphrey toll-free number, 1-855-833-6291 for information about whether they qualify for compensation from the Deepwater Horizon Court-Supervised Settlement Program. The Law Firm is working with Texas claims in Jefferson, Orange, Galveston and Chambers counties.

"BP set aside billions of dollars to compensate claims and the Settlement establishes a claims process that is very favorable to Texas Businesses" says Bryan O. Blevins, Jr., equity partner with Provost Umphrey. "We want to help business owners navigate the system in order to receive the compensation that they deserve. More than 2,000 Texas business owners have already received in excess of $52,000,000 in claim payments."

Most Texas Businesses will be required to show a 15 percent drop in gross revenues for any 3-month period between April 2010 and December 2010, when compared to the same period in 2009, 2008-2009 or 2007-2009, followed by a 10 percent rebound in 2011 (same period). Other claims can qualify if supported by additional evidence of customer patterns.

For more than forty years, Provost Umphrey's mission has remained to seek justice for those most in need across Texas and nationwide through their lawyers in Beaumont and Houston, Little Rock, Arkansas and Nashville, Tennessee.

Contact: Miranda Sevcik (713) 515-9729

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