BP

BP Liable for Punitve Damages for BP Claims

October 3, 2011 By chazkey Leave a Comment

BP Claims Process and Punitive Damages Judge Barbier ruled that under Maritime Law, business`s and individuals that were affected by the BP Oil Spill could sue BP for punitive damages. This is a major blow to BP. Punitive damages go beyond just the economic loss incurred. They are intended to punish the offender, so it doesn`t happen again. Extreme negligence will have to be proven on BP`s part. Article How will this affect the BP Claims Process As of now punitive damages aren`t compensated for in the Oil Spill Claims process. What is taken into consideration is Interim Claims. It has always been my position that it is best just to file BP Claims for Interim Payments, unless you really need the money, and I know many people do. Interim BP Claims allow you to sue BP at a later date, and if it looks like punitive damages are going to be awarded, you may want to reserve your right to … [Read more...]

Filed Under: BP Claims, gccf claims Tagged With: BP, bp claim, BP Claims, bp oil spill, bp punitive damages, GCCF Claims

BP Claims: BP Claims the History and the Reckoning

September 29, 2011 By chazkey 2 Comments

BP Claims the Tragic Truth The BP Claims process was better handled by BP then the Gulf Coast Claims Facility. When BP decided to make things right for the business and individuals affected by the BP Oil Spill, they utilized the Emergency Advanced Payment system. Commonly referred to as EAP`s people scrambled to receive EAP`s from BP and many were paid. Though the EAP system was far from perfect, and many got left on the sidelines, many were indeed paid. Then the reigns of the BP Claims payment system were handed off to Ken Feinberg on November 23rd 2010. Interim payments were suppose to come from the Gulf Coast Claims Facility first. Those economically injured by the Oil Spill were filing their Interim BP Claims and Final BP Claims with the GCCF and through Attorneys. The fact is they were not paid for several months and then it was only a trickle of claims getting paid. Ken Feinberg … [Read more...]

Filed Under: BP Claims Tagged With: BP, BP Business Claims, BP Claims, GCCF

BP Claims may settle out for 30 Billion Quickly

September 20, 2011 By chazkey Leave a Comment

BP insider says BP about to pay 30 Billion to settle BP Claims BP Claims News: A BP insider reported to Reuters that BP may want to settle many its BP claims after the February trial date. The trial would solidify who was at fault for the Macondo well blow out. A recent report that was finished this week, put the blame squarely on BP`s shoulders. Halliburton and Transocean did share some of the responsibility, but due to the lack of oversight, cutting corners, and not releasing all the information to it`s partners, BP was ultimately responsible for the Gulf Disaster. reportMy sources that are very involved with the litigation and the BP Claims process think that BP will make a large push to settle out as many claims as possible, before the February trial date. We are seeing BP Claims get paid at a record rate. By both Adjusters and Attorneys. Your Claims value may have jumped … [Read more...]

Filed Under: News Tagged With: BP, BP Business Claims, BP Claims, Claims