Any business in Alabama, Louisiana, Mississippi, or the west coast of Florida may be eligible for compensation for financial losses under the terms of the BP Settlement Agreement. Generally, if a business in one of these areas had an aggregate revenue decrease after the oil spill in April 2010 and later had an aggregate revenue increase, it will probably qualify for compensation. This is true even if the business doesn’t know if the oil spill caused its losses.
For example, a furniture store qualified for $150,000; a veterinarian will receive $80,000; a construction company is eligible for $5 million. These businesses are not related to fishing or tourism, so they are not the kind of businesses most people typically think of as being hurt by the BP oil spill. Still, they are entitled to compensation for financial losses under the terms of the BP Settlement Agreement.
There is no monetary cap on the BP Settlement Agreement. Claims may be filed through April 2014.
If you would like to know if you qualify for compensation under the BP Settlement Agreement, contact Upton Law Firm today.