How will the oil spill affect my Gulf Coast business?

The ongoing BP Deepwater Horizon oil spill is causing catastrophic financial damage to communities along the Gulf Coast. The oil spill has the potential to affect 7.3 million businesses in Texas, Louisiana, Mississippi, Alabama and Florida and as many as 34.4 million employees, according to an analysis by Dun and Bradstreet, the business information company.

The types of businesses that may be adversely affected by the oil spill include restaurants, gift and novelty shops, hotels and motels, service stations and repair services. Your business may be similar to the majority of affected businesses—a small business with fewer than 10 employees. In addition, more than 78,000 square miles of the Gulf of Mexico have been closed to fishing, affecting more than 1,000 businesses that hatch, catch and process shrimp, crabs and fish.

The full impact of the BP oil spill on businesses in the Gulf Coast is not yet fully known. When the spill will end remains an open question. In the meantime, economic losses keep mounting. The Oil Pollution Act of 1990 allows for businesses, including hotels, restaurants and commercial fishermen, to make claims for economic losses related to the BP oil spill.

If you have a claim for economic losses, your losses should be well-documented through businesses records, tax returns and other financial records. The claim should be made initially to BP for economic losses.

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.

To discuss your case, contact the Houston, Texas lawyers of Arnold & Itkin at 888-498-8212 or use our online form. We focus on representing your financial interests in claims against BP.

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