Business Interruptions / Loss of Income
BP officials say easing the economic burdens created by the oil spill is the right thing to do – let’s hope BP continues to honor their responsibilities as the financial damages continue to pile up. The Oil Spill Task Force was established with the intention of helping ensure that the negligent parties are held to account with the livelihoods and businesses that they have put at risk. Gulf Coast businesses are due a fair shake by BP, and the damages far exceed the $5,000 BP is currently offering to small businesses.
Contact our team of investigators, financial consultants, and attorneys to make a fair determination of the immediate, short-term, and long-term needs of your business. Let us help represent your needs and protect your business by calling: 888-498-8212.
- The bills continue to arrive in the mail for business owners. There are still salaries to pay, equipment to lease, and logistics that are forcing small businesses to rely on credit to try to ride out the crisis.
- “In a sign of the spill's widening environmental impact, the United States nearly doubled a no-fishing zone in waters seen affected by the oil gushing from the blown well, extending it to 19 percent of U.S. waters in the Gulf.” [reuters]
- Restaurants are already seeing a 30-40% increase in the wholesale price of fish and seafood – with fewer guests and reservations. Many fear they will not be able to stay in business.
- Some hotels along the Gulf Coast are reporting a 50% cancellation rate – while new bookings are down as much as 70%.
- BP is accused of circulating waivers to coastal residents trying to cap damages from the oil spill at $5,000. After condemnation by the Alabama attorney general and Homeland Security Secretary Janet Napolitano, BP’s CEO reported that they have stopped circulating the waivers.
The BP Oil Spill is causing catastrophic damage to an entire region and way of life. Fishermen can’t fish. Hotels have no tourists. Restaurants have no diners. And, the ecosystem is being poisoned each day. Small businesses represent 99.7% of all businesses in the United States and employ over half of all Americans.
If your business has suffered financial loss and/or interruption due to the Gulf Coast oil spill, contact us today to learn how to file a claim for damages and protect your business: 888-498-8212.
LOSS OF INCOME - AVAILABLE ASSISTANCE
- The Small Business Administration (SBA) is making low-interest loans available to small businesses in the Gulf Coast regions of Alabama, Florida, Louisiana and Mississippi suffering financial losses following the April 20 Deepwater BP oil spill that shut down commercial and recreational fishing in the Gulf of Mexico. See if your business qualifies: http://www.sba.gov/services/disasterassistance/
- www.DisasterAssistance.gov includes information on the types of Federal assistance that individuals and businesses can apply for such as nutrition programs, business disaster loans, temporary assistance and unemployment insurance.
The Oil Spill Task Force, sponsored by Arnold & Itkin LLP, is available for a free initial consultation to see if your claim meets the standards for possible compensation from BP and / or other negligent parties. Find Out More: