Important BP Oil Spill Lawsuit Update

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Lawsuits and claims against BP for the 2010 Deepwater Horizon oil spill may become more complicated, though there is still time to pursue a lawsuit against BP, according to Fund My Suit.

British oil company British Petrolium (BP) has been facing ongoing problems since its 2010 Deepwater Horizon oil spill in the Gulf of Mexico. The disaster spilled millions of barrels of oil into the Gulf and became known as the largest marine oil spill in the petroleum industry’s history.

Also known as the deepwater Macondo disaster, the oil company’s well erupted on April 20, 2010, killing 11 people. Over the past three years, BP has been faced with thousands of lawsuits and claims as a result of the tragic oil spill. BP recently revealed the latest number of new legal claims in its first-quarter results of the year.

Future lawsuits against BP may be numbered due to the United States Oil Pollution Act of 1990, which according to the Environmental Protection Agency dictates a three year statute of limitations on lawsuits being filed on the issue. Most of the new BP lawsuits were registered under the Oil Pollution Act, and with the third anniversary of the disaster just having passed, further legal actions against the oil company and its contractors may become more complicated to pursue.

BP and its contractors and partners Halliburton and Transocean, ended the first phase of their trial, which is taking place in New Orleans' Federal District Court, last month. The judge presiding over the case, Carl J. Barbier, will still need to make his ruling on the degree of blame each party will carry and what level of negligence will be applied to each. The final ruling of this case, which could potentially come in the summer, can have a large impact on BP’s final liability.

Currently, BP’s spill fund, which is used to compensate BP Oil Spill Claims, only has $1.7 billion of the original $20 billion remaining for future payments. All BP oil spill disaster victims who are currently pursuing or considering pursuing legal action against BP and its partners, and require legal funding to pay for attorney fees or living expenses during the lawsuit, should consider contacting a lawsuit funding company for legal funding.

Fund My Suit, a trusted legal funding company, offers lawsuit funding for a variety of cases, including BP oil spill lawsuit funding for victims of the marine disaster. Contact one of their helpful legal funding experts to find out more about your BP oil spill lawsuit funding options and how legal funding can help your BP oil spill case.

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Chuck Cocuzza
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