BP Oil Spill lawyer

On April 20, 2010, a British Petroleum (BP) oilrig exploded, killing 11 platform workers and seriously injuring 17 others, before it ultimately sank on April 22.  Varied estimates put the amount of oil spilled into the Gulf Coast at approximately five million barrels before BP finally capped the well in September 2010.  While we still cannot be certain of the full extent of the damages to the environment, it is clear who were most affected: Gulf Coast businesses and individuals.  Many are still suffering the economic fallout of a region previously known for its seafood and scenic vistas, now forever known as the site of one of the worst environmental disasters in United States history.

If you own a business that suffered profit losses and other damages because of the BP oil spill, a qualified lawyer from Hach & Rose can help.  We can assist you with the claims process and fight for your right to just compensation for your economic losses.

A slow recovery for area businesses

The oil that spilled into the Gulf affected the coastal regions and barrier islands of several states, including Louisiana, Mississippi, Alabama, and parts of Texas and Florida.  While the environmental effects were widespread the focus of much media attention, the damages and losses suffered by area businesses were just as devastating, and continue to affect the economies of the Gulf States to this day.

The industries primarily hurt by the BP oil spill include the following:

  • Tourism
  • Commercial and recreational fishing
  • Seafood
  • Transportation and charters
  • Oil rig workers

While some businesses have rebounded, a year later the fishing and seafood industries are still combating beliefs that their produce is unsafe to eat.  Many hotels, restaurants, and other businesses that catered to visitors were forced to close in the wake of the disaster due to the loss of tourists.  Those that survived are still struggling to counter the images of beaches covered in tar balls and wildlife covered in oil slicks.  It may take a few more years for the full economic damages and losses to come out.

The BP Claim Compensation Fund

Thanks to the Oil Pollution Act passed after the Exxon Valdez disaster, BP was required to set up an immediate claims process for those suffering the economic fallout of the oil spill. Additionally, the Obama administration required BP to set up a $20 billion escrow fund to compensate businesses and workers who suffered financial damages both current and future because of the oil spill.

However, one year later, fewer than 40 percent of these claims have been processed, and even fewer have been paid.  Though BP pledged $20 billion in assistance, only approximately $3.5 billion has actually gone to use.  Even more frustrating? BP was allowed to write off $13 billion of its clean-up costs on its U.S. taxes.  And in July of 2011, BP put forth a legal argument that it should not have to make any more payouts for future losses.

Qualified BP oil spill attorneys can help you file your claim

If your business suffered economic harm due to the BP oil disaster, you have legal recourse.  The types of lawsuits for which you may qualify to file include the following:

  • Lost business profits and individual income losses
  • Environmental damage
  • Property damage

Individuals who suffered injuries and health problems because of the oil spill or the chemical dispersants, or lost someone in the explosion, may also pursue legal action.

If you have experienced losses and damages because of the BP oil spill, contact an oil spill lawyer from Hach & Rose. We provide free, no-obligation consultations and multilingual services, and we serve clients nationwide.  Please call our New York City office at (212) 779-0057 or (866) 529-7872, or fill out our online contact form today.