SOURCE: Kahn Swick & Foti, LLC
NEW ORLEANS, LA--(Marketwire - Mar 18, 2013) - As a result of a settlement in the BP Oil Spill civil action in the United States District Court for the Eastern District of Louisiana, almost $8 billion has been set aside to pay Business Owners in Louisiana, Mississippi, Alabama, Florida and Texas who suffered a decline in their business during 2010 compared to earlier years. While BP had agreed in Court to pay businesses without regard to whether the 2010 Gulf oil spill caused the decline, BP has now requested that the Court put a hold on payments to businesses in certain industries, including businesses in professional services, construction, real estate and agriculture, among other businesses. This, despite the Court's recent ruling against BP requiring it to make such payments. The Court's opinion can be found by clicking here.
As of March 11, 2013, The Court's claims administrator has awarded businesses -- which include non-profit entities also -- a total of $1,211,741,717. With over 12 months to make claims, KSF believes that BP dramatically underestimated how much money would be due to Gulf South businesses, and is now attempting to limit payments despite the Court's decision against it. KSF and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., are actively fighting BP through the Settlement program over its attempt to exclude such businesses and we anticipate that we will be victorious, consistent with the Court's decision.
Kahn Swick & Foti's managing partner Lewis Kahn is leading the firm's BP Claims division. Mr. Kahn may be reached direct toll free 1-877-4BP-CLAIM. The firm maintains a separate website, www.bpbusinessclaim.com, providing information on the BP claims process and requirements.
The law firm of Kahn Swick & Foti has dedicated significant resources to handle the BP claims process. KSF is a national law firm, based in Madisonville, LA, and has recovered over $200 million in complex commercial litigation in recent years. The firm provides free consultations, and works on contingency whereby it only collects a fee and its expenses if it secures a recovery for its clients.
To learn more about KSF, you may visit www.ksfcounsel.com.