Any fears that the Deepwater Horizon Economic Settlement Center would not gain traction on the Gulf Coast have been put to rest. In just over a month since its opening, the settlement center had received 35,498 claims. Of those claims, the largest share of filings were attributed to individual economic loss (35%), with business economic loss claims falling in second place (19%). Filings are sure to grow in the coming weeks, as 41,491 claimants had either registered to file claims, or were in the process of registering to file claims. When you consider that many claimants have multiple claims they will likely submit, claim filings could easily swell over 100,000 by October based on just the current claimants registered to file.
For those who qualify, the settlement facility will likely be the best opportunity Gulf Coast claimants have to receive compensation for future uncertainty and to recoup past losses. Punitive damages will likely not be available to most businesses and individuals impacted by the spill, and proof of “future” losses or uncertainty associated with the spill is an extremely difficult burden in cases like this. The claims process seeks to provide both.
In addition to the amount of compensation claimants receive, the claims facility has already begun issuing determinations on some claims. Given the Limitation Stay on all lawsuits arising from the Deepwater Horizon explosion and spill pending a ruling from the court on liability, it is likely that claimants will not have their individual cases set for individual resolution for at least the next two years. Timing certainly favors the settlement for most qualifying folks and their businesses.
Lawyers in our firm continue to file claims on behalf of a variety of clients, and we have begun receiving determinations on those claims. We are pleased to report that so far, the determinations we have obtained from our clients have been encouraging. If you have any questions about the settlement process, please contact Parker Miller, a lawyer in our firm, at Parker.Miller@beasleyallen.com, or by telephone at 800-898-2034.
Contact us today for a free legal consultation with an experienced attorney.
Fields marked *may be required for submission.
If you would like to subscribe to the Jere Beasley Report digital edition, simply visit our Subscriptions page and provide the necessary information or call us at 800-898-2034.
Attorney Advertising - Prior results do not guarantee a similar outcome.