Under new guidelines it may become more difficult to collect compensation for long-term losses resulting from the BP oil spill. This is good news for BP but very bad news for consumers.
The new rules for oil spill loss claims to be processed were released Friday, August 20. Washington lawyer, Kenneth Feinberg, was picked by President Obama to oversee the $20 billion fund put aside by BP to settle claims.
So now who receives compensation?
The Associated Press reports that a flower shop in Florida probably won’t. Neither will a restaurant in Idaho that had to cut back on fish sales. The closer you are to the Gulf of Mexico, the better the chance that you will see some compensation. That is going to cut out a lot of businesses that rely on the attractions of the beach to make their livelihood, even if they don’t live near the beach.
The question that will have to be asked is, “Do you depend on the Gulf’s natural resources for your livelihood?”
The kicker will come this fall when workers and businesses that make claims will have to agree to give up their right to ever go to court to sue BP in order to be compensated for long-term losses. Give up your American right to a remedy through the courts for money?
Claimants are put in a tough spot. Health effects from this oil spill and the dispersants may not be known for years, not to mention the health concerns from eating seafood from the area.
Claimants have until November 23 to make claims. Feinberg says his goal is to speed up the process that has been rather sluggish.
AP reports that Florida Attorney General, Bill McCollum, wrote to Feinberg objecting to many of the new rules and complaining it creates a heavier burden on the victims of BP.
The Florida oil spill economic loss attorneys at Farah & Farah want to help those who are victims of BP, and now the system, recover what they can. Call us for a complimentary consultation on your losses.