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The tragic and avoidable explosion of BP's oil drilling rig not only cost precious lives, but also drastically harmed economies, and cost thousands of people throughout five Gulf Sates their livelihoods. Finally after several months of negotiations, and BP's failure to objectively administer their own compensation program under their Gulf Coast Claims Facility (GCCF), BP agreed to close the GCCF, and to settle their class action lawsuit in June of 2012. In December of 2012 a U.S. Federal District Court judge gave final approval to all the terms of the Settlement Program and BP began making substantial payments to claimants.
The most profound aspect of the Settlement Program is that it takes into consideration the detrimental impact their oil spill had on tourism, and the devastating trickle down economic harm to economies all throughout the coastal counties in Florida (from the Keys to the Panhandle), as well as the entire states of Alabama, Mississippi, and Louisiana, and portions of Texas surrounding Galveston. The good news is BP is now being held accountable and is required to compensate businesses and individuals for the direct and indirect economic losses they suffered, and BP Claim Professionals, LLC are experts in navigating every aspect of this very complex claims process on your behalf.