Gulf Coast Oil Spill Claims – November 2011 Update on BP Claims Filed With Gulf Coast Claims Facility

BP Claims Are Backlogged

As I’ve mentioned before, I’m an attorney who represents a number of clients with BP oil spill claims.  Unfortunately, Kenneth Feinberg and the Gulf Coast Claims Facility have turned out to be a big disappointment to many people with BP claims for money lost due to the Gulf oil spill.

Gulf Coast Claims Facility Performance Falls Short of Promises Made by Kenneth Feinberg

The Gulf Coast Claims Facility, or GCCF, appears to be almost hopelessly bogged down reviewing hundreds of thousands of Gulf oil spill claims. The GCCF has gotten rid of several hundred thousand oil spill claims, but these were almost all quick, small settlements. Some people who took these oil spill settlements were in such terrible financial shape that they felt they didn’t have any choice other than to accept the offer made by the Gulf Coast Claims Facility. It has become clear that the GCCF is not going to fully and quickly pay BP claims, as Kenneth Feinberg promised the people of the Gulf Coast.

Gulf Oil Spill Claims by Businesses Are Being Greatly Delayed

People with substantial business claims for Gulf oil spill losses may want to consider making final demands to the Gulf Coast Claims Facility.  Under the Oil Pollution Act, when an oil spill occurs, the “responsible party” is required to make an offer to a person who lost money because of the spill. The responsibility party is required under the Oil Pollution Act to make the offer within 90 days of receiving a final demand on an oil spill claim.

BP is certainly a “responsible party” for the Gulf oil spill. Kenneth Feinberg and the Gulf Coast Claims Facility are acting on behalf of BP. Although there are no guarantees that a person or business which files a final claim will get a response within 90 days, it is a course of action that you may wish to discuss with your attorney.

Oil Spill Losses By Businesses Can Be Documented By Forensic Accounting Firms

I’m working with an alliance of law firms representing people and businesses with BP claims. Our alliance is headed by Texas attorney Brent Coon of Brent Coon & Associates (BCA). BCA has offices in most of the Gulf Coast states. I’ve been impressed with the job BCA and the other firms in our group are doing. We’ve hired forensic accounting firms which are experienced in calculating business losses and providing evidence to prove the amount of those losses.

Many people and businesses use tax preparers or accounting firms which are familiar with tax issues and deductible expenses. Some who are familiar with tax laws may not be aware of all the losses that a business has suffered and will continue to suffer in the future due to the BP oil spill. If you believe you have suffered substantial losses but don’t have a person who can calculate those losses, you may wish to consider talking with a forensic accounting firm or a law firm handling BP claims.

Bankruptcy Issues

I want to make one final point. Some people have lost their businesses or jobs due to the Gulf oil spill. They may be considering filing bankruptcy due to their destitute financial condition. These people may wish to ask their bankruptcy attorney to consider filing a BP claim for them, or they may wish to ask their attorney to talk with a law firm which handles BP claims. Some may be forced to file for bankruptcy. But it doesn’t seem fair that BP should be allowed to put people and businesses in bankruptcy without paying for the damage its oil spill caused.

Tagged as: BP, BP Claims, BP oil spill, Gulf Coast Claims Facility, Gulf Coast oil spill, Gulf oil spill, Kenneth Feinberg, Oil Spill Claims