BP OIL SPILL BUSINESS CLAIMS
By now, you are probably aware of the recent BP Oil Spill Settlement. What you might not know is that this settlement applies not only to business owners who live along the Gulf Coast but businesses throughout the entire state of Mississippi. If you own a business that lost money during any period in 2010, there’s a chance that you qualify for payment under the settlement.

WHO QUALIFIES?
Any business located in Mississippi, Louisiana, Alabama, and parts of Texas and Florida. If your business suffered any losses in 2010, then you may qualify for BP Oil Spill compensation. Even if you don't think your business was affected by the oil spill, it’s important to review your financial records.

HOW DOES IT WORK?
Under the terms of the settlement, a business only has to meet a financial test to obtain payment. Business locations are classified into four zones, as specified in the agreement. Zone A is closest to the Gulf of Mexico and Zone D is the furthest from the Gulf. For Zone A businesses, there is no financial test requirement. For businesses in Zones B, C and D, they must see between an 8.5% to 15% revenue decline in 2010, as compared to historical data.

To be more specific, a decline in revenue for 2010 is determined by selecting three or more consecutive months from May to December, 2010. The revenue from these months is then compared to the same months from any one of the following: (1) 2009; (2) an average of 2008 and 2009; or (3) an average of 2007, 2008 and 2009. A business may select the time period which is most advantageous to its situation. You then look to your 2011 recovery. Even if your revenue continued to decline in 2011, you may still have a claim.


WILL I BE PAID ALL OF MY LOSSES?
Under the terms of the settlement, not only will you be paid for your losses, but also you will receive a multiplier on your final award.

WHAT DOCUMENTATION IS REQUIRED?

To begin reviewing your claim, we need your company’s 2007-2011 tax returns and 2007-2011 monthly profit and loss statements. If you have businesses that have failed in the past two years or were started within 18 months of the oil spill, then you may have to provide additional documentation.

WHAT IS THE NEXT STEP?
The deadline to file a claim is April 14, 2014. Contact our team now so we can help you. We work on a 25% contingency contract, meaning that you do not pay us unless you are paid. We look forward to helping you and your business benefit from this important settlement.

Contact us now! 601.859.4065

This website is maintained by The Law Offices of Marsha Weems Stacey, Attorney at Law, to provide general information about itself. The information you obtain at this site is not, nor is it intended to be, legal advice upon which you should rely or act.
The Law Offices of Marsha Weems Stacey, Attorney at Law will zealously represent you and do all legally possible to advance your case, including associating other counsel to provide additional expertise
if necessary.
If you would like to discuss your potential claim contact us at (601) 859-4065. Free
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Phone: (601) 859-4065
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