Are BP oil spill claims paid on a first-come, first-served basis?
Individuals and businesses with claims for damages from the BP Oil Spill should present their claims to BP for payment. The claims can only be processed when accompanied by proper documentation such as pay stubs, trip tickets, wage loss statements and income tax returns to support the claims.
An experienced legal advisor at Arnold & Itkin LLP can advise you on the documents you’ll need to submit a valid claim. We have heard a number of concerns about the pace of the BP claims process. Complex claims — generally for more than $5,000 — are taking even longer to evaluate and settle. Lack of documentation is the single biggest issue delaying processing of claims. The claims are funded by a $20 billion escrow account that was set up by BP and is being administered by an independent fund administrator.
If the claim isn’t processed within 90 days, or the claimants don’t receive full payment for their claim, they may then file a claim with the Oil Spill Liability Trust Fund. Claims to the Oil Spill Liability Trust Fund will be processed in the order received and payments will be made in the order approved. The Oil Spill Liability Trust fund operates on a first-come, first-served basis. Because there is as yet no end point to the damage from the BP oil spill, individuals and businesses will have valid claims for the foreseeable future. It’s important to start the claims process now.
The unprecedented harm of the BP spill will continue to affect property, business and the environment for years to come. The Oil Spill Task Force, sponsored by Arnold & Itkin LLP, coordinates the financial, legal and investigative resources needed to represent the claims of businesses and individuals whose livelihoods and property are threatened by the BP oil spill. Investigators assigned to the Oil Spill Task Force have been gathering evidence of environmental damage caused by the oil spill.
If you would like to discuss your complaint, then please call 888-498-8212 or use our convenient online form. We focus on representing your financial interests in claims against BP.
At Arnold & Itkin, we are experienced trial lawyers and aggressive advocates for our clients. Our attorneys quickly assess the strengths and weaknesses of each individual case and map out a strategy for winning. Our law firm secured over $100 million in verdicts or settlements for our clients in 2009. Once you meet the legal team at Arnold & Itkin LLP, you will understand why H Texas magazine in Houston named Arnold & Itkin LLP "Top Lawyers for the People" three years in a row and why Texas Monthly has consistently recognized our attorneys as “Rising Stars.”
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