There are 3 very easy steps we use to determine a business’s eligibility under the BP oil spill class action settlement: 1) location; 2) type of business; and 3) financial criteria. The subject of today’s blog is the first step—location.
As they say in real estate: It’s all about location, location, location! Did your business own or lease real property within the area zoned by the settlement between April 20, 2010, and April 16, 2012? If so, you have qualified for the first step in the analysis! It’s as simple as that.
So, what ARE the areas zoned by the settlement? This is one of the rare and exciting aspects of the BP settlement. There is an enormous geographical area eligible for benefits. The program includes businesses in all Florida counties bordering the Gulf of Mexico, from the Panhandle down to the Keys, all of Alabama, Mississippi, and some counties in Texas. To get an idea of just how huge the settlement area is, take a look at this map:
Importantly, even if a business is many miles inland, it may still be eligible. And unlike many class actions, the claim payments are substantial enough to offer real relief for income losses many businesses never expected to recover.
BP has acknowledged that the oil spill tragically had a massive trickle down effect on the economy of our region. It would be a mistake to assume your business does not qualify. Contact us today, and we will screen your claim for eligibility free of charge.