bp settlement
For immediate assistance with your claim call:
1 (888) 888-1027
Get Assistance with Your BP Multidistrict Litigation Claim Today

New Developments Impact Deepwater Horizon Settlement

When the Deepwater Horizon oil spill accident first occurred, the concerns of the citizenry of the Gulf of Mexico went in many different directions based upon the damage that was incurred. Property owners were concerned about loss of value. Boat owners were concerned about the impact of exposure to chemical dispersants and oil to their engines and boat bodies. Fishermen were concerned not only about the time that they were unable to fish, but also about what the long term impact would be on the fish population in the area that had traditionally provided forty percent of the American public’s seafood diet. All of these concerns were based upon what was known – that millions of gallons of crude oil had ended up spilling into the Gulf of Mexico following the catastrophic accident on board the Deepwater Horizon oil drilling platform, exacerbated by the use of an unprecedented amount of toxic chemical dispersants. Still, despite the devastation that was known, a group of attorneys representing those plaintiffs who had been damaged economically by the spill and the attorneys representing the BP Oil Company managed to hammer out a settlement agreement that sought to address all of the issues and concerns of those who had been financially damaged after the spill, and the agreement was granted preliminary approval by federal judge Carl Barbier.
Now, just a few weeks before the scheduled date of a fairness hearing that is a precursor to providing final authorization for the agreement, many objections are being voiced to the terms and conditions established by the agreement, and a good number of those objections have been raised as a result of recent developments in the Gulf. The area, which is prone to hurricane activity, was recently visited by Hurricane Isaac, and the impact of the storm ended up stirring the oil and dispersants that had settled on the floor of the Gulf of Mexico and dredged them up and deposited them once again on the shores and wetland areas of the Gulf states. Although the BP Oil Company has been trying to minimize the meaning of this new development, attorneys representing plaintiffs posed against the oil giant are indicating that this means that the overall impact of the oil spill is still unknown and could be far worse than was assumed when crafting the Deepwater Horizon agreement. Based upon this new knowledge, they are asking the judge to forestall approving the agreement and review the new information. Their fear is that if there is hidden damage that has not been taken into consideration while the agreement was written, then the residents of the Gulf might end up having to cover the costs of future impact of the spill.

This entry was posted in bp claim. Bookmark the permalink.
bp settlement