Need Lawsuit Funding On A BP Lawsuit Settlement?
When the BP oil spill dumped 3.19 million barrels of oil into the Gulf in 2010, it devastated the businesses in Gulf Coast states. This devastation wasn’t limited to areas along the coast but spread throughout the states of Texas, Florida, Louisiana and Alabama. Businesses that have been affected by the Deepwater Horizon oil rig explosion should contact Pravati Legal Funding in order to be matched with an attorney who can help them determine whether they are entitled to damages.
Timeline of Recent Court Activity
- May 19, 2014 – 5th Circuit refuses to reconsider its earlier rejection of BP’s complaint that a Claims Administrator was misinterpreting the agreement. 5th Circuit also rules that direct correlation to Oil Spill is not necessary to prove causation.
- May 27, 2014 – 5th Circuit lifts injunction that had halted payments to claimants since third quarter of 2013
- May 28, 2014 – BP indicates intent of Writ of Certiorari (Supreme Court final review)
- May 29, 2014 – BP asks Supreme Court Justice Antonin Scalia for emergency action to halt payments until such time that the Supreme Court decides to hear the case or not.
- June 9, 2014 – Supreme Court (Justice Antonin Scalia) rejects BP’s motions to stop payments while BP is appealing Supreme Court.
- August 1, 2014 – BP formally requests Writ of Certiorari
- September 4, 2014 – U.S. District Judge Carl Barbier ruled that BP’s oil was the result of gross negligence or willful misconduct by the London oil company.
- October 1, 2014 – Supreme Court starts a new session and will consider whether to accept BP’s request appeal.
- October 31, 2014 – Court issues an order ruling Cameron International Corporation’s and Liberty Insurance Underwriters, Inc.’s motions for summary judgment in Civil Action no. 12-311
- November 13, 2014 – BP loses appeal over “Gross-Negligence”
- December 8, 2014 – Supreme Court Rejects BP Gulf Oil Spill Challenge
- January 10, 2015 – Appeals court won’t rehear a BP oil spill liability argument
- January 16, 2015 – Judge Puts BP’s Top Fine at $13.7 Billion for Gulf Oil Disaster and rules that only 3.2 million barrels spilled instead of the 4.2 million barrels reported by the US government.
- February 19, 2015 – Judge rejects BP attempt to lessen fines for Gulf of Mexico spill
- February 24, 2015 – BP challenges ruling over size of 2010 oil spill
- March 8, 2015 – BP ends attempt to oust oil spill claims administrator
- March 16, 2015 – US Government appeals Judge’s ruling on the 3.2 million barrels being spilled instead of the reported 4.2 million barrels
- May 8, 2015 – BP won the right to dispute some claims from the Gulf oil spill so BP can limit its payout to victims of the explosion.
- June 25, 2015 – BP’s fines for the 2010 Gulf of Mexico oil spill could mount up to approximately $60.2 billion to $68.2 billion
- July 2, 2015 – SETTLEMENT REACHED: BP agreed to pay about $18.7 billion in damages for water pollution caused by the spill, settling claims with the U.S. government and Louisiana, Mississippi, Alabama, Texas and Florida.
- July 31, 2015 – November retrial date expected for former BP engineer in deleted oil spill text case
- September 5, 2015 – BP Pushes for Refund of Overcharged Gulf Oil Spill Payouts
BP Business Economic Loss Settlement Financing
At Pravati Legal Funding, we are invested in the success of the Gulf States and those businesses that have been adversely affected by the BP oil spill. We have developed a large network of BP Oil Spill Lawyers with experience fighting similar BP Oil Spill Lawsuits. Contact us today and we will match you to the right BP Oil Spill Lawyer for your complaint. We can also help provide business financing to help you begin the recovery before you’ve received your BP Oil Spill Settlement from The Deepwater Horizon Oil Spill Settlement.
Pravati, helping you with your BP lawsuit settlement funding needs.
Which Businesses Can Make a Claim
In 2014 an appellate court finalized the decision that BP must make payments to those businesses in the Gulf Coast region that experienced losses as a result of the spill. As of that date, the company had paid almost $4 billion to claimants. The company tried to stem some of the future payouts when it said it was concerned about paying out many fraudulent claims since businesses aren’t being required to provide proof that the oil spill was behind their losses. The appellate court denied their appeal. With tar balls still being found on Gulf Coast beaches several years after the event, it seems as though damages to business will be experienced for years to come.
Commercial Fishing Industry Still Affected
It’s not just landlocked businesses that have suffered the devastating effects of the BP oil spill. The commercial fishing industry is also still impacted. A recent study has shown that the toxins and oil are causing cardiac arrest in certain fish populations. In addition, there have even been reports of sick fish showing up on beaches in Louisiana and Florida. With the seafood industry in the Gulf netting roughly $460 million per year, widespread sickness and death in these fragile ecosystems cause a dramatic hit to fishing families and their communities.
Do You Need Pre Settlement Financing For A BP Lawsuit Settlement?
side effects from the BP Oil Spill
- Disrupted local and nationwide businesses
- Medical injuries from cleanup
- Wildlife disrupted
- Oil still at the bottom of the ocean
If you experienced the effects of the BP Oil Spill or in a BP lawsuit settlement, contact Pravati Legal Funding today.