Deepwater Horizon Oil Spill Settlement Program Information

The Gulf Coast Claims Facility (GCCF) headed by Kenneth Feinberg has closed and the new Deepwater Horizon Court-Supervised Settlement Program (the “Settlement”) is now open and accepting claims. This new program represents a dramatic shift from the policies and procedures of the GCCF and warrants the attention of any business or individual who has not already accepted a final payment. Some important highlights include:

• Many businesses may qualify for compensation, even if they are not involved in tourism or have locations close to the Gulf of Mexico. The Economic and Property Damages Settlement Class covers individuals and businesses in the Gulf-coast counties of Florida, all of Alabama, Mississippi and Louisiana, and in certain Gulf-coast counties in Texas. Unless you or your business are a member of a specifically excluded industry or group (such as financial institutions or the gaming industry), you may potentially have a claim even if you are not directly involved in tourism.
• The determination of causation (whether your loss was related to the Spill) and compensation are, in many cases, driven entirely by financial formulas. Many claimants will be eligible for compensation without having to provide any documentation other than their financial data.
• The Settlement has created frameworks under which many types of claims which were not being heard by the GCCF, such as claims by failed businesses and startup businesses, can qualify for compensation.
• Many deadlines have changed. If you have an outstanding “Quick-Pay” offer from the GCCF of either $25,000 (businesses) or $5,000 (individuals) the deadline for accepting that offer is June 11, 2012. The new facility is expected to be open through at least April 22, 2014, the deadline to object to the settlement is August 31, 2012, and the deadline to “opt-out” of the settlement class is October 1, 2012.
• As a court-supervised claims process, your claim with the Settlement must be handled by either an attorney or you must represent yourself (pro-se). Beware of the many non-attorney “claims administrators” who are seeking to charge a contingency fee or percentage of your claim amount for handling your claim. Saltmarsh will never ask for a contingency fee or claim to be able to “represent” you in the Settlement process, however, we are actively working with both represented clients and their legal counsel and clients who are choosing to represent themselves and can provide you with assistance in gathering or producing the required documentation, applying the various causation tests, calculating your claim under the applicable framework and understanding the tax implications of any settlement payments.
• If you qualify for compensation you will be asked to sign a waiver and release before receiving payment. Saltmarsh is not a law firm and we are advising all of our clients to consult with legal counsel before executing the waiver. If you need help in locating counsel we can provide you with the names of some firms who are active in the area of practice.
• You can find more information about the Settlement program through the official website at www.deepwaterhorizonsettlements.com.
• You can check your “zone” online by using the interactive web-based map service can be found by either following the links through the Deepwater Horizon website above or going straight to http://69.166.140.73/zonelocatoreconomic.

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