Tag Archives: bp individual claims
BP Settlement Waterfront Claims:
Mind you until we see the settlement this is conjecture, but educated conjecture.
Of all the claims, these BP Waterfront Claims are possibly the most valuable out of the whole Property Claims Program. The BP Settlement Waterfront Claims regard the properties along the coast line. These properties will be the ones that will have a Zone A connotation. BP Settlement Waterfront Claims, though seemingly a narrow class, are actually expansive under the BP Settlement.
BP Settlement Waterfront Claims will expand the class to all waterfront claims along the rivers, estuaries and bays from just west of New Orleans to just east of Pensacola, FL. Essentially, BP Settlement Waterfront Claims will open up the category from strictly beachfront property owners to property owners who had property among river banks and bays.
BP Settlement Waterfront Claims and zone A
Furthermore, the Zone A category expands up to 0.5 miles from the coast line and beaches for BP Settlement Waterfront Claims. This would mean that BP Settlement Waterfront Claims do not have to be directly on the beach, but it does mean that they would have to be close, within a few blocks from the beach, to qualify for Zone A standing.
Your BP Settlement Claims multiplier, as previously mentioned, will be factored in bare in mind that this multiplier for BP Settlement Waterfront Claims is not set, yet, as the Settlement Agreement has not been accepted by BP and has not been approved by the Eastern District Court.
BP Settlement Waterfront Claims expand to properties that suffered from oil spillage resulting from the Deepwater Horizon Incident of 4/20/10. BP Settlement Waterfront Claims also expand to loss of sales price. Where the Claimant had sold the property AFTER the Spill, than what the property was appraised for before the Spill. BP Settlement Waterfront Claims will also include cancelled contracts to buy your waterfront property.
BP Settlement Waterfront Claims and Contracts
On cancelled purchase contracts, BP Settlement Waterfront Claims will pay a percentage of the Pre-Spill sales price. There is some speculation as to what sales price to use in calculating BP Settlement Waterfront Claims’ loss from a cancelled contract, but it appears that the higher, Pre-Spill appraisal price will be used.
Keep in mind that the Settlement Agreement, and issues involving BP Settlement Waterfront Claims, have not been settled, yet. This will happen on 4/16/12, so be patient, we will release the facts as soon as they are presented to us. Thank you.
We will Help you with your BP Settlement Waterfront Claims.
BP Settlement Individual Claims
The BP Settlement about to be released will open the doors to many Claimants who were previously excluded, perpetually denied and had no hope. Though perfection cannot be preached, there is a noted improvement under the new System for BP Settlement Individual Claims. What will be discussed here is who can qualify and how to qualify.
First of all, the BP Settlement has broken up the Gulf Region into 4 Zones: A, B, C, D. BP Settlement Individual Claims are covered under these zones. Where Zone A is the closest, Zone D is the farthest away from the actual coast line. BP Settlement Individual Claims have opened to any individual with an economic loss, and evidence required to prove your claim will be based on in which you Zone YOU WORK. The location of your employer will govern which Zone you qualify in and will affect the multiplier that is applied to your damages.
BP Settlement Individual Claims zone break down:
•Zone A – 1/2 mile from the beach and high impact areas. BP Oil Spill Caused All Damage presumed, meaning that Causation will not hinder your BP Settlement Individual Claims.
•Zone B – Within 1.0 mile, but ½ mile from the beach. Seafood And Tourist places to work. Causation on these BP Settlement Individual Claims who work for employers in the seafood/tourist businesses will be presumed. All other BP Settlement Individual Claims will have to show an actual, Post-Spill, 4/20/10 loss.
•Zone C – Over 1.0 mile from the beach, but less than 2.0 miles. Seafood harvesters and processors. Causation for these types of BP Settlement Individual Claims will be presumed. On all other BP Settlement Individual Claims, even if they rely upon seafood and/or tourism, will have to show a reliance on tourism to the GULF and seafood from the GULF. These BP Settlement Individual Claims will also have to show an actual, Post Spill loss.
•Zone D – Over 2.0 miles from the beaches. These are all other claims over 2.0 miles from the beach. You must show a dependency on fishing and/or tourism through causation documentation. In addition to showing causation, you must show an actual loss after the Spill, but a trend upwards in 2011. The OPA imposes a duty to mitigate damages, and this will have to be shown in your financial data, payroll records, etc.
BP Settlement Individual Claims may look like this.
Zone A + Direct reliance upon Tourism and/or Fishing = a damage multiplier of 3.5
Zone A + Indirect reliance upon Tourism and/or Fishing = a DM of 3.0. These types of BP Settlement Individual Claims would be employees of companies that served the tourism and fishing industries. For example: an employee of a Marketing publisher that publishes pamphlets for a Hyatt on the beach, will now be able to get paid, but at a slightly lower multiplier. Zone B + Direct reliance upon Tourism and/or Fishing = 3.0 because you are not directly on the beach, it will be assumed that these BP Settlement Individual Claims did not suffer as great a loss as those BP Settlement Individual Claims located on the beach.
Zone B + Indirect reliance upon Tourism and/or Fishing = 2.5, for these types of BP Settlement Individual Claims. At least you will not be a pre-determined denial while being told that you still qualify.
Zone C + Direct reliance upon Tourism and/or Fishing = 2.5, for these types of BP Settlement Individual Claims.
Zone C + Indirect reliance upon Tourism and/or Fishing = 2.0 for these BP Settlement Individual Claims originating from Zone C.
Zone D + Direct reliance upon Tourism and/or Fishing = 2.0 for these types of BP Settlement Individual Claims.
Zone D + Indirect reliance upon Tourism and/or Fishing = 1.5 for these BP Settlement Individual Claims.
These multipliers are theoretical, at best, at this point for BP Settlement Individual Claims. The Settlement is not set in stone, yet, but this information is based on what we are hearing. Furthermore, the calculation of your damage will look like this:
[YOUR 2010 Damages] + [Your 2010 Damages X Multiplier] = Total award for your BP Settlement Individual Claims. The System will be more generous this time around and it does not automatically deny people. This is a great improvement for BP Settlement Individual Claims.
As always we have Attorneys or Adjusters that will help you with your BP Settlement Individual claims