Tag Archives: ken feinberg
The BP Settlement and your BP Claims
Everything that needs to happen before the BP Settlement can take place is happening, there are a few things that have needed to transpire in order for the settlement to take place, and it looks like they are. It looks like more of a reality each day, news has leaked that they are developing a matrix to help calculate BP Claims for your final BP Settlement. Ken Feinberg`s days look numbered.
The Restore Act is getting closer to passing, the Gulf States would then receive approximately 80% of the money from the settlement. Everyone agrees this must be done before the BP Settlement.
BP is still cutting deals with partners, and the people in the know, say they know. The fact is we will see. Though at this time I don`t think it is a good idea to take any final BP Claims payouts, we are just too close to the trial date, and the high likelihood of a BP Settlement.
Denied BP Claims and BP Claims with Offers
If your BP Claims were denied, been made offers, or or have languished at the GCCF, now is the time to act. Get your claims information together and get it to one of our BPClaims.org accredited Consultants, or one of the Law Firms that we have connected with that have proven track records. They will only charge you on the New money they get for you. We have been in this process for a long time now, and we know who talks the talk, and walks the walk. I think we all have had enough of those who talk.
Our network extends from Houston to Key West, and they all know how to get people paid. The new BP Claims matrix will be in place soon and it looks something like this.
The matrix will have different Industry categories to it, with different payouts per geographical area.
Here is an example.
A Fishermen in Louisiana will get 4 x their 2010 loss, while one in the Florida Keys will get 2 x their 2010 loss.
A Waiter in New Orleans will get 3 x their 2010 loss while a Waiter in Fort Meyers will get 2 x their 2010 loss.
A Marina in Mississippi will get 4 x their 2010 loss while a Marina in Tampa will get 2 x their 2010 loss.
These are just examples, we don`t know the matrix yet, but aspects have been leaked.
If you are sick from the dispersant Corexit Please contact Us.
It looks like the end for Mr.Feinberg and his role in the BP Claims Process
Mr. Feinberg, you have on the whole failed, you starved out people, and gave them Quick Pays, people lost their houses, their cars, and their families as they waited, and waited, and waited, whole towns were destroyed as you laid in bed with BP. Generations of livelihoods were crushed. You told us in the beginning that you were independent, when you took over the process on November 23rd, 2010, many people had high hopes for you, you promised much, but delivered little, you saved BP a lot of money, you got a raise while others starved. In the end Judge Barbier had to stop you from telling folks you were independent. You created a complex GCCF Methodology that was cloaked in secrecy, and people with master degrees couldn`t decipher. Thank God our people did. Transparency of the BP Claims process was what you promised, but instead did the exact opposite. An audit had to be performed. You made promises Sir, you made lots of promises most of them left un-kept. In the end your legacy will be tainted with oil, it really is a shame, we all wanted you to be for the people, and to help save our ways of life, when in fact all you did was save BP money.
We will help You with your BP Claims and your BP Settlements, Consultants start at 15% and Attorneys at 25%, and they only get paid when they recover your BP Claims money.
BP Settlement: Looks like BP may be ready to settle
BP Settlement News: As the February 27th trial against BP looms in the near future, BP Settlement rumors are flowing into the news. BP is looking to settle and the BP settlement amount is looking to be between 20-25 billion. This is on top of the $20 billion dollars that was used to set up the Gulf Coast Claims Facility to pay BP Claims. BP was responsible for the April 20th, 2010 Deepwater Horizon oil-rig explosion that killed 11 men and dumped enormous amounts of oil into the Gulf of Mexico.
If there is no BP Settlement, Judge Barbier will be hearing the case and without a jury to help, BP’s fate lies on his shoulders. This news comes after the new charges that claimants now look at, because Barbier decided that every claimant should pay 6% out of their BP settlement check to be put in escrow for the attorneys spending time on the multi district litigation. This initially meant that even people who are not involved in the multi district litigation will be lining the pockets of attorneys who are not representing their cases. This has since changed. Only cases at the MDL will be charged the 6%. This has taken some pressure off Judge Barbier. With the new talk of a possible 20-25 billion dollar BP settlement, people may be seeing a light at the end of the tunnel. A BP Settlement could be settled out before the trial, but just because they are trying to settle out does not mean that people have to settle. This will be the first of many lawsuits BP will face in the future.
Will the BP Settlement Come in Before the Trial?
If the US government and BP do not reach a BP Settlement for BP Claims then BP should prepare for court. The trial will take place in court room C268 in New Orleans, and Judge Barbier will make the decision that will affect BP’s entire future. The court room can hold around 200 people, and on February 27th it will be busting at the seams. The multi-district litigation will include the majority of claims against BP, Haliburton and Transocean. It will also include state governments, individuals and businesses who show a loss as a result of the spill, and claims between the three companies on trial. Transocean was the owner and operator of the Deepwater Horizon rig, and Haliburton was the contractor that provided the cement that was supposed to seal the well. There are 533 separate cases rolled into one big trial, and there will be more cases added before the trial date. Lawyers are still taking cases and boosting their advertisements to get as many cases in this trial as possible. A commercial fisherman from Louisiana has put in a claim of $4 million from losses from the oil spill. The GCCF did what they have done for many claims and offered out only $25,000 to George Barisich. He has refused to settle and is one of the many cases that has joined the multi-district litigation hoping to collect from the BP Settlement. Many BP Claims have gone unpaid. A BP Settlement is in BP’s best interest.
With over five hundred cases the court documents add up to more than 72 million pages. There are 303 video depositions and over 7700 exhibits in evidence. Ninety firms have worked over 230,000 hours on this case, and these are just the private sector attorneys. The Pre trial hearings are getting very interesting. The U.S .claims that BP, Transocean and Anadarko Petroleum are all accountable under the Clean Water Act. This would penalize them anywhere from 1100 per barrel split to 4300 if the spill was a result of gross negligence or willful misconduct. The US government does not feel they will have any problem proving willful misconduct from Transocean at the least. As of right now BP and Anadarko are pointing fingers at Transocean and in turn, Transocean is pointing the finger right back. If the judge awards the maximum amount, these penalties could reach 20 billion alone. BP would be better off to go ahead and agree to a BP Settlement. Regardless of the verdicts, there will be appeals and BP will not be out of the woods for a long time to come.
Morgan Stanley believes there is anywhere from a 70 to 80 percent chance of a BP Settlement, and they will pay between 20-25 billion dollars to compensate all federal claims including possible criminal penalties. This leaves a good chance that we will see a BP Settlement, and people will start getting their compensation. BP, Transocean, Haliburton, Ken Feinberg, and the GCCF are under severe scrutiny in regards to negligence that caused the oil spill, and negligence and misconduct in paying claims out to the people who suffered from the BP Oil spill. The GCCF is still being audited, and criminal charges are a great possibility. Criminal charges have not been filed as of yet but the investigations into criminal negligence will likely cause a BP Settlement as quickly as possible. The government and BP both are willing to reach an agreement on the BP Settlement, its just a numbers game at this time. BP is going to have to offer a fair BP Settlement in order for people to be happy. If they offer an unfair amount, people are going to continue to fight.
BP Settlement: GCCF Still Denying Claims
Just this week BP has denied the 11.8 million dollar claim from Gulfport. The city put a claim in for lost sales tax, over $1 million in property taxes and over $6 million in community damages. BP stated that Gulfport has not given adequate documentation of sales or property tax losses from the time of the Oil spill. BP has already tried to settle out for $76,000 with Gulfport, but the offer was rejected. The city is still hoping that the claim can be settled without having to go to court but does not understand how a bp claim was worth $76,000 and now it is not worth anything.
BP Settlement: What we can do for you
Do you qualify for a BP Settlement: Again it is important to remember that just because BP settles out does not mean you have to settle on the amount. The BP Settlement between BP and the U.S. does not mean you have to settle for a less than you deserve. BP and the GCCF have a history of giving low ball offers, and not paying people what they truly lost as a result of the oil spill. BP will have no choice but to settle out. Do not be the one who settled for less than what was deserved. We have BP claims consultants and have connected with attorneys who will help you get the compensation that is owed to you and will fight the GCCF, BP, and Ken Feinberg. We are not standing down, and are still fighting to help as many people as possible get their BP Settlement.
The Future of the BP Claims Process ?
What to expect in 2012 with the BP Claims Process, what you are about to read is conjecture, but if you look at our track record we have been pretty dead on when we forecast the future of the GCCF and the BP Claims process thus far. There are certain facts that are coming to light that will support the following statements regarding the future of the BP Claims process. There are many rumors surrounding the GCCF, the fate of Ken Feinberg, coinciding with developing news around the BP Claims Audit, and the strong possibility of BP personnel facing criminal charges. Mind you, these are predictions.
Predictions for BP Claims in the New Year
1. In the very near future BP Claims will begin to get paid at a very high rate, one that we have never seen before.
The reasoning for this is several reasons, the BP Claims Audit is underway, and what is going to be disclosed is not pretty, it will show dysfunction at a very high level, and an organized systematic ineptitude by the GCCF, it will lead investigators and others at the Department of Justice to believe this was done on purpose. This will be compounded by the February 27th trial date that will lay the blame of the explosion squarely at the feet of BP, it will be disclosed that BP engineers clearly knew about a pocket of gas, and they did not alert it`s partners. As BP and the GCCF have done in the past, they will stem off the negative publicity by paying lots of claims. They may very well do this before the trial date, so that they are less likely to face the wrath of all the Individuals and Businesses that still have BP Claims pending at the GCCF.
2. Ken Feinberg will be stepping down as the Head of the GCCF
With all of the news that is about to come out of the BP Claims Audit, BP is going to have no choice but to distance themselves from Ken Feinberg. They again are going to try to lay the blame for the failings of the GCCF on someone else. BP has had quite a history during the BP Oil Spill of blaming it`s partners, it has blamed Halliburton, it has blamed Transocean, and now it will blame Ken Feinberg and other officials at the GCCF.
3. A new Apparatus to pay BP Claims will replace the GCCF, at the very least there will be major changes at the GCCF
After it is discovered by BDO the new consulting group engaged by the Department of Justice to audit the BP Claims process and the GCCF, it will come to fruition that a new mechanism to pay all of the BP Claims will have to be established. At the very least a complete overhaul of the GCCF, and it`s hierarchy will be constituted. Eric Holder at the urging of Jim Bonner and Senators Wicker and Rubio are seeking justice for all of those betrayed by the GCCF. The audit will be completed no later then March of this year, on the heels of the February trial that will find BP as the most responsible party for the Gulf of Mexico Oil Spill.
4. Oil Spill Clean Up Workers and others will continue to get sick, Nalco and the EPA will come under fire
It will be confirmed that those exposed to Corexit and the the oil that spewed from the the Deep Water Horizon, are indeed sick and getting sicker. It will be further verified from evidence from the Exxon Valdez that a spike of certain cancers will start showing up in those exposed. As we have seen, blood tests will become increasingly more used to determine the levels of contamination in people. Volatile active compounds in the blood will be directly traced to the Gulf Oil Spill and the dispersant Corexit 9500. Lawsuits will be instituted against Nalco the maker of Corexit and the EPA for letting them use it, while other alternatives were readily available.
5. Areas of the Gulf will be in complete collapse.
It will become increasingly clear that certain species in the Gulf and bayous will enter a severe state of decline, as noted this year the catches were way down for shrimp, crab and other fish both pelagic and reef dwellers. There are just so many signs that things are not right in the Gulf of Mexico, it will become most evident at the end of 2012 that the Gulf will need decades to recover. Twenty plus years after the Valdez oil spill only 15% of the Herring have ever returned. With all of the Oil and Corexit sitting on the Gulf floor killing things at the molecular level, it will be understood how this bio accumulates in the different animals that call the Gulf of Mexico home, and how it will affect the food chain. This will drastically affect the Gulf of Mexico`s economy and the Gulf Seafood Industry.
BP Claims Solutions found Here
Whether you need an Attorney or a seasoned Claims Consultant, all you have to do is fill out the form to the right. We are not allied with one particular attorney, or one particular consulting group, we insist on matching potential claimants with the group or firm that will best serve them. The results speak for themselves, we have had clients recently paid in 16 days and large business claims paid within 60 days. We will help you with your BP Claims even if you have been denied or your claim is stalled. If you would like to call us directly please call 1-800-BP-CLAIM.
We can help you with your BP Claims.
BP Claims and Shrimpers Claims
Breaking news has been released that 53% of the gulf shrimp that were tested contained PAH’s (polycyclic aromatic hydrocarbons). There has been consumption warnings issued, and shrimping continues to be affected drastically. We are just beginning to realize how much the environment has been impacted since the oil spill and you can be sure we will continue to hear even more devastating news. Ken Feinberg has been reprimanded by Capitol Hill for the way has chosen to handle the BP Claims process. He inferred the shrimpers would get some much needed relief.
With BP Claims deadlines approaching and BP claims offices closing, the Gulf Coast Claims Facility has prolonged a state of disarray in the BP Claims process. Thousands of people are stuck in the delay or deny tactic the GCCF has decided to continue on those directly affected by the Oil Spill.
What we found out about the BP Claims process.
The GCCF has made the claims process almost unbearable for those who suffered loss from the oil spill. We have acquired a much better understanding of what is going on inside the GCCF and how the claims process is working behind the closed doors of the GCCF. This has given us a much better understanding of what exactly the GCCF is looking for when processing your claim.
Breaking News: BP Claims Updates.
BP and the GCCF are trying to skate around BP Claims Consultants and have a more direct exchange with individuals filing claims on their own. In doing this the GCCF is aiming to interact only with individuals themselves on their settlement offers and decisions in hopes that the individuals will take low ball offers because of their lack of knowledge and advice from a professional. Can you blame them? Claimants must sign and agree that a BP Claims Consultant be made aware of any new information or decisions being made. This does not include Attorney’s at this time. If you would like to have your claims consultant included in your decision of settlement be sure to send the signed document stating that all information on your claim should also be sent to your BP Claims Adjuster. Do not take a low ball offer without seeking advice from a professional.
Here is how it reads:
Notices and Payments. The GCCF no longer will send letters on claims determinations
or payments to a Claims Preparer. Instead, the GCCF will send all letters and payments
directly to the claimant. If a claimant has submitted to the GCCF a document signed by
the claimant authorizing a Claims Preparer to receive information on the claimant’s
claim, the GCCF will send a copy of each letter to that Claims Preparer.
We will help you with your BP Claims.
BP Claims making the News
I have been writing for about a month now about BP Claims and the ensuing battle for transparency with the GCCF and Ken Feinberg. BP Claims Lawyers have asked Judge Barbier to appoint a Special Master to the 20 Billion Dollars Oil Spill Claims Fund. Attorney Generals from the Gulf States have asked Judge Barbier to look at complaints that the GCCF is intentionally Delaying, and Denying BP Claims in order to pressure oil spill victims into taking BP Quick Pays. Attorneys for the Plaintiff`s also charge that the GCCF is not in compliance with the Oil Pollution Act, and that all the Quick Pays deserve a second shot at the BP Claims Fund.
Today GCCF Lawyers Defend their Handling of BP Claims
The Attorney for Ken Feinberg, David Pitofsky said in court filings that the BP Claims Funds accomplishments show that there is no need for court oversight. He went on to say that they are overseen by several committees in Congress and the Coast Guard. When asked about the BP Claims Quick Pays he said that “It can be a perfectly rational decision to accept an assured short-term payment over a possibly larger, but postponed long-term payment. He also said that “claimants are drawn by the immediate cash for their BP Claims.”
GCCF Tactics regarding BP Claims
The GCCF is utilizing a Delay, Deny, Defend tactic when it comes to paying your BP Claims. The GCCF is ever changing what they are asking people for regarding documentation, and the BP Claims process is ever shifting and becoming more forensic. People are receiving unsolicited offers from the GCCF mostly in the form of Quick Pays. Many of the Quick Pays that are being offered by the GCCF are far lower then what BP actually owes people and business`s affected by the BP Oil Spill.
What to do about Your BP Claims
Quite simply put them in the hands of a BP Claims Expert, whether you use one of our BP Claims Team members, or find your own. BP Claims Team members are getting oil spill claims paid. We have been working with many of them since the beginning of the spill, and they are doing a fine job getting people paid. We have added some new members that are filling niche`s as new developments in the BP Claims process need to be addressed. BP Claims Team members can look into your claim while it is at the GCCF, and figure out why it is being delayed, cure any deficiencies, and explain your claim to GCCF staff in order to substantiate your claims. BP Claims members can help if your claim was denied, and of course they can help you if you are filing a BP Claim for the first time. All Team members work on a contingency basis, and their fees start at 15%.
Best of Luck with your BP Claims.
The GCCF is Being Sued for BP Claims Delay
The Florida Lawsuit claims that BP Claims are not being paid in a timely fashion in an effort to starve the claimants so that they will accept just a miniscule amount of what they are actually owed.The Attorney points out something we have said for months on this blog that BP is using a Delay, Deny, Defend Strategy.
Feinberg has been under heavy fire from Plaintiffs Attorneys as well as the Attorney Generals from the states bordering the Gulf of Mexico. The fact remains that only a fraction of Interim Claims have been paid, and these were the initial solution that would give time for people and business`s to evaluate the devastating effects fro the BP Oil Spill. Instead of helping people put their Interim Claims together they came up with the BP Claims Quick Pay, which for all intensive purposes, was used as a mechanism to give starving claimants a fraction of what was owed, while they signed off their rights to sue BP.
Lets Look at what officials have BP Claims Issues
Alabama Attorney General Luther Strange said the GCCF payments “do not amount to much” and Alabama residents have been “reduced to begging for handouts from an organization … whose primary missions seems to be turning them down.”
Mississippi Attorney General Jim Hood filed a request that Barbier intervene in the GCCF process.
The Gulf States of Alabama, Mississippi, Florida and Louisiana have all criticized Feinberg and the GCCF, on how they have handled your BP Claims.
Louisiana Governor Bobby Jindal and Attorney General Buddy Caldwell wrote a memo criticizing Feinberg and said he was not complying with the Oil Pollution Act known as OPA.
Now there is an Audit underway led by U.S. Attorney General Eric Holder.
Recent GCCF and BP Claims Developments
Recently several groups that receive your information from the Review Form on the right have met with Mr. Feinberg and other officials at the GCCF. The GCCF and Mr Feinberg has made them a lot of promises as they went over your BP Claims. Over the course of the next few days one of the leading Attorneys that has literally thousands of BP Claims many of them coming from this site, will be sitting down trying to settle as many BP Claims as they can. It is my hope that they have great success and settle as many BP Claims as possible and people actually get their BP Claims paid.
I have met with Mike Rosen myself, he is Ken Feinberg`s law partner, we had a nice, very informative conversation, that was over 6 months ago. I walked away thinking that these guys care and really want to help people. The fact remains the BP Claims process would not have all of the above mentioned critics including me if it was working properly.
As my Grandfather always said, Actions speak louder then Words.
Now a little word of advice to the GCCF stop talking, and just pay people`s BP Claims
Why your BP Claims are not getting Paid
The Gulf Coast Claims Facility has sent out letters to many recently that their BP Claims are denied, or that the GCCF is requesting more documentation to substantiate your claim. Why, after months and months of processing is the GCCF doing this now.
It is all part of a larger tactic employed by the GCCF of Delay, Deny and Defend. The longer you wait for your BP Claims money the more people become disenchanted with the whole process. Many people decide not to take further action, or not to take any action at all. This is playing right into their hands. They want you to lose interest in the BP Claims process.
If their true intention was to make it right as their slogan says, the BP Claims process would be more streamlined and more fair. By making the process more difficult the GCCF is saving BP money. Lets remember that the GCCF is run by Ken Feinberg who is paid by BP. He is paid 1.3 million dollars per month to administer the BP Claims money through the GCCF. Feinberg tried desperately to portray himself as independent of BP, it took a ruling by Judge Barbier in New Orleans to tell him to stop saying he is Independent.
BP Claims Fund is paid Quarterly
The GCCF is allotted 1.2 Billion dollars from the 20 Billion dollar fund every fiscal quarter. That money goes to paying off as many small BP claims as possible, with a few large ones that are being represented by aggressive BP Claims Attorneys. Paying off the small claims first helps the GCCF look impressive statistically. Look at how they manipulated people into taking the BP Quick Pays. First they delayed paying anybody with Oil Spill Claims for sometime, promising people that Interim claims would be forth coming. Then after months of not paying those BP Claims they came out with the BP Quick Pay, 5k for individuals and 25k for business`s, this was only after people reached a high level of economic desperation. This also allowed them to take over 100,000 oil spill claims off the books, in a short amount of time, and people gave up their right to sue BP.
The BP Claims Shuffle
This is what the BP Claims process is coming down to, The GCCF is stalling because it does not have the full 20 Billion Dollars in the Bank, it is funded incrementally. When the money runs out, so does their ability to pay claims. What is the GCCF’s best line of defense? Your BP Claims are UNDER REVIEW, or your BP Claims have been Denied, please reapply.
None of this helps much when your world is in economic collapse due to the Oil Spill. Lately, BP has been making deals with its partners to pick up some of the cost. Weatherford International has agreed to pay BP $75 million, Mitsui has agreed to pay BP 1.1 Billion. BP still has ongoing suits against other Deepwater Horizon partners Transocean, Halliburton and Cameron International as part of the multidistrict litigation that is ongoing in the U.S. District Court for Eastern District of Louisiana.
With all of this money coming in and the energy BP is expending to bring it in, you would think that if they used half of this effort you would assuredly have gotten your BP Claims paid by now.
Our BP Claims Solution
The Dream Team of Attorneys that we have connected with to serve you, all have specialties in the BP Claims Process. They are major players in the upcoming litigation, one is on the Plaintiffs Steering Committee, another has received the highest award for his clients from BP ever, another firm specializes in Interim Claims and Denied Claims with a quick turnaround time, they are all here for you. All you have to do is fill out the form to the right. Do you really believe the GCCF when they tell you your BP Claims are still under review.
BP Claims: The Fox and the Hen House
We have seen an uptick in BP Claims offers being made to Individuals and Business`s in the last week, however we have also seen a large number of denials of BP Claims that looked like they should have been paid. If you read this blog you know we follow the BP Claims process very closely. Though we did see offers come in to a few in the construction field, and the fishing industry, many of the other Individual and Business BP claims were denied for a lack of paperwork, or proof of loss. Other offers that came in were traditionally a little less then half of what was being asked for, some were just absurd and look as thought they are heading towards litigation.
It`s really a shame that many people were again told your claim is under review for 7 months, only to find out it was denied. The BP claims process has been mishandled from the beginning by Ken Feinberg and BP. Mr Feinberg wanted you to believe he was independent, it took a court ruling from Judge Barbier to stop him from saying that. A recent report blasted Obama for not taking a more active role, and leaving Feinberg in charge. The BP Claims process very much reminds me of the old adage the fox is guarding the Hen House.
BP Business Claims: Has your Company Lost overall Value
“All businesses are valued based on a number of factors, but the factors that matter the most are cash flow and risk,” For smaller businesses, cash flow is typically defined as a form of adjusted profit, like Seller Discretionary Earnings. The BP claims process has no clear cut methodology for the consideration of a Business`s overall loss of value.
Evaluating a BP Business Claim for loss of value may involve multiplying the adjusted profit of the business times a multiple. For example, assume a fish processing plant nets $1 million in profit per year, and then assume fish processing plants sell on an average of three times the profit. This company would be worth an estimated $3 million. Now assume that post-oil spill, this same company is expected to net only $250,000 per year for the foreseeable future. The value of the fish processing plant, based on an income approach, is now three times $250,000, or $750,000, a loss in business value of $2.25 million dollars.
Forensic accountants involved in the BP Claims process often use this formula, coupled with other formulas to figure the true loss of a business that was damaged by the Oil Spill. The more documentation that can be gathered to support your BP Claim, can help you substantiate your loss. Many experienced BP Claims Attorneys have Forensic Accountants on staff.
BP Claims and what to do Now
With BP trying to mitigate it`s damages and it`s overall lack of consideration to those affected, it is my personal opinion that the best thing you can do is to find a good lawyer who has had success against BP, or at least understands the GCCF process and has gotten their clients paid. We have connected with those attorneys, and they have gotten results for people and their BP Claims.
If you Google BP Claims the first ad you will see is a paid ad from BP,
Visit BP’s Claims Page & Learn How To Make A Claim Without A Lawyer
So lets think about this, the company that has left the majority of Gulf Coast Residents in economic collapse, say`s you can make your claim without a lawyer, and you can, And you can wait to hear hear the words “under review.” This should actually be BP`s slogan, Your claim is under review, while your house gets foreclosed on, your business is forced to close, your car is repossessed, your family disintegrates, the kids are forced to live with Grandma and Grandpa, and there is no food in the fridge.