(PRWEB) August 30, 2012
Petroleum company BP has reached a settlement with the Plantiff’s Steering Committee (PSC) in response to the plaintiff’s claims for loss of property and medical expenses that were incurred as a result of the 2010 Deepwater Horizon explosion and oil spill. Both parties have requested that the court approve the settlement agreements, one of which focused on private property damage and economic loss and the other on medical expenses of the plaintiffs. Danziger & De Llano is assisting claimants who are trying to file a claim as well as providing information on the latest developments.
BP and PSC are satisfied that they have decided on a settlement figure that is fair without being unreasonable, and will be sufficient to cover the costs incurred by the plaintiffs. Included in the agreement is the opportunity to notify members of the class action against BP of their eligibility regarding the settlement claims, how much they have been offered and the right to appeal or schedule further hearings if any of the members are not satisfied with the settlement offer.
If the members of the class action are satisfied with the settlement deal, then the court will be given the authority to approve the settlement. BP is also requesting the court will adjourn the Multi District Litigation trial for liability of the incident until the settlements have been officially approved or rejected. BP will not be waiting for final court approval before beginning the pay outs to plaintiffs in the trial.
It is estimated that the BP settlement figure is in the range of $8 billion, which will cover the plaintiff’s medical expenses, loss of income, loss of personal property and legal expenses. The $8 billion will be paid from BP’s trust fund, which was established by the company to pay out for legitimate claims by individuals and businesses, as well as government claims for environmental damage and damage to government property. It is unclear as to the amount that each individual in the case action was requesting from BP in damages. The court has made it clear that the actual cost of the recovery process stemming from the Deepwater Horizon explosion and oil spill may in fact be higher than the estimated settlement figure. In this case, BP may be asked to re-assess their offer to avoid the case going to trial.
This settlement agreement comes after months of negotiations between BP attorneys and the PSC. Call 1(800)310-2970 or visit http://www.bpsettlements.net for more information. Danziger & De Llano helps those who have not yet received compensation for the 2010 BO oil spill. If you need further information about filing a claim, you can contact the firm using the information below.
Danziger & De Llano, LLP
440 Louisiana, Suite 1212
Houston, TX 77002
(713) 222-9998 Tel
(866) 222-9990 Toll-free
(713) 222-8866 Fax
MDL NO. 2179
United States District Court Eastern District of Louisiana Section J - Judge Barbier