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BP Settlement Adapts

BP Settlement Procedures Shift Gears

bp settlement As I write this I am sitting in the lobby of my hotel in New Orleans. I have had back to back meetings for the last two days with some of the key figures in and around the BP Settlement.

The BP Settlement is maturing, they are finding out where the problem areas lie and are actively addressing the issues that have plagued it.

Without going into to much detail, the largest issues around processing have been getting the attention of the senior leadership. These issues are being dealt with.

Expect procedures to evolve from the Settlement Fund when needed, there have been some shortcomings here. Look for more staff to be getting hired internally by the fund, and by some of their vendors.

There are people working inside of the BP Settlement from 8 to Faint. They absolutely do care about the people affected by the BP Oil Spill, these are their neighbors, family and friends. There is no room for failure, and they take it very personally.

After speaking with some people around the settlement that knew the people that are at the epicenter of the Fund, these are some of the most respected people you will find in the State of Louisiana. They are not in this for the money, they are here to help administer this fund and get people paid, it is really that simple.

If your BP Claim fits the Settlement they want to see it paid, if it does`t and many don`t, they will need to opt out and look for a remedy through OPA or litigation.

BP Settlement Opt Out

For many as time start`s winding down you will be faced with staying in the BP Settlement or Opting Out by November 1. I don`t think it is fair for there to be an opt out date so close when, there has been such a limited number of claims paid. We need a sample set to go from, but that is looking less and less likely.

The folks at the Settlement have clearly identified the issues and are doing their best to fix them, the fact is they need more time, we all do.

Will they get it, I am beginning to doubt that. What I do believe though is if you can clearly define your losses you will get paid, if you can`t you may want to seriously consider opting out.

The Settlement is by no means one size fits all, as a matter of fact many claims that don`t fit squarely within the parameters of the BP Settlement need to opt out. We are all going to have a busy 10 days before us, if the date is not extended.

Overall Thoughts

I was very impressed at the dedication I found by the People who are running the Settlement.

These are their neighbors, this is their legacy, and they are destined to right the sinking ship they inherited.

The people I have met are a very proud and resilient group, they have a lot of heritage and legacy here, there is no way on God`s Green Earth they are going to let down their neighbors, friends, and family.

It just won`t happen, it may not work for everybody, but this is going to work for many, you can bet on it.

These folks don`t know failure,  I believe their bodies will give up on them before their will does, all I can say to that is welcome to the club…The 8 to Faint Club…We all have a lot of work to do.

Solutions

In the next few days I will be outlining different areas where people will need help, whether they are in the settlement or decide to opt out. We met with some fantastic attorneys and processors while here, and our Team got a little bigger.

 

 

 

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