Floridians will not forget when the Deepwater Horizon oil spill occurred in the Gulf of Mexico in the spring of 2010. Many businesses along Florida’s Gulf coast suffered economic losses due to the spill. BP, the oil company responsible for the spill, has recently announced a $20 billion fund to pay for any successful claims for economic loss from the time of the spill through the end of 2010.
BP is basically admitting that their negligence hurt the local economy and they want to limit the amount lawsuits filed against them by trying to settle as many claims as possible out of the $20 billion fund. This is important news for many local Florida businesses because BP is not requiring them to show that the spill caused their damages, they only need to prove that they had a loss of income during the above mentioned time period.
From the Keys up through Florida’s entire Gulf coast, whether it’s a hotel, restaurant, gas station, fishing charter, real estate agency, bridal shop, or any other business, it may qualify for a settlement. While BP is reserving that $20 billion to settle many claims, it can be expected that many law suits will still be filed against BP for damages cause by the oil spill, including physical damage to personal and real property.
It will be interesting to observe BP’s actions over the next few years in their payment of these claims and the settling of other lawsuits against them. If you have suffered economic loss as a result of the BP oil spill, or your business lost money from the time the oil spill occurred through the end of 2010, call a Tampa injury lawyer at Givens Givens Sparks for an assessment of your potential claim.