A group of lawyers working on behalf of <“https://www.yourlawyer.com/topics/overview/BP-Gulf-Oil-Property-Claims-Rental-Property-Lawsuit-Lawyer-Class-Action”>BP oil spill claimants is currently in negotiations with Kenneth Feinberg, of Feinberg Rozen, administrators of BPâ€™s $20 billion oil spill compensation fund, to settle claims over damaged or lost real property for over 600 property owners along the Gulf Coast. According to the group, Mr. Feinberg is seeking to have these claims resolved by the end of February.
The group, which consists of attorneys from the national law firm of <“https://www.yourlawyer.com/”>Parker Waichman LLP, as well as the Law Offices of Daniel E. Becnel, Jr. and Neblett, Beard, & Arsenault, said even property owners whose BP oil spill damage may have bee denied by the Gulf Coast Claims Facility may be resubmitted through the group, and will be taken under consideration by Mr. Feinberg.
The BP oil spill began on April 20, 2010 with an explosion aboard the Deepwater Horizon oil rig that killed 11 men. By the time the undersea well was finally capped on July 15, more than 4 million gallons of oil has been allowed to flow unabated into the Gulf of Mexico. The Gulf Coast’s vital tourism and seafood industries, as well as real estate values, have yet to recover.
Following the disaster, BP agreed to provide at least $20 billion to compensate victims of the disaster. The fund is being administered by Mr. Feinberg via the Gulf Coast Claims Facility. Claimants may accept interim payments without waiving any of their legal rights. Accepting a final payment of long-term damages requires claimants to release BP and any responsible parties. You can accept an Emergency Advance Payment(s) and reject the final payment if you find it to be unsatisfactory
In a statement announcing its groupâ€™s negotiations with Mr. Feinberg, Parker Waichman LLP urged anyone who has yet to submit a claim to the Gulf Coast Claims Facility for damaged or lost real property, or anyone who has already had such a claim denied, to contact the firm or its co-counsels. It is vital that claimants act now before negotiations between Parker Waichman LLP, its co-counsels and Mr. Feinberg are finalized.