As per court documents filed Friday, the Deepwater Horizon Settlement people said in court that offers would start to flow out next week and then check to follow when people approves the offers. The latest stats are below from the Deepwater Horizon Settlements of what has been filed. If you have not file yet and need help, fill out a form on this website and we will get with you today to get you started.
This show only about 40,000 claims submitted so that means lots of claims will not make the October 1 2012 deadline, I estimate that there is about 250,000 – 500,000 claims still out there. The deepwater Horizon Settlement people should have employed about 300 people that are trained and ready to go to handle the claims that are in now. That is compared to the 800 people Mr. Feinberg had in Ohio.
The attorneys are still focused on submitting cases to the Deepwater Horizon Settlement if they qualify for the settlement, cases that do not qualify they are being submitted to the OPA program in Houston where BP’s head quarters are. So if you have a moratorium case in with the attorneys it would be submitted under the OPA (oil pollution Act) in Houston Texas with BP. If you have a loss of income or loss of business case it would be submitted first to the fund to see what kind of offer you would get. If you are not happy with the offer it would be submitted to the OPA program in Houston Texas.
Deepwater Settlements October 1 2012 deadline
Its going to be very interesting to see what the attorneys do and how many people opt out of the Deepwater Settlement by the October 1 2012 date. This date is when the Deepwater Horizon Settlement becomes binding for everybody that are a class member and that has not written to the fund to opt out. You become a class member simply if you have a claim that fits in the settlement. All that advertising going on now is to tell you about your rights and that you need to opt out before October 1 2012 or you are bound by the Deepwater Horizon Settlement.
What this means if you are a class member (tourist, fishing, seafood processing, loss of income, loss of business are all class members) that what ever the Deepwater Horizon Settlement offers you its binding and you cannot opt out after October 1 2012 and sue BP, even if they find that they only owe you $1 or nothing at all. So its important for everybody to understand how their rights will go away on October 1 2012 and you are now in the Deepwater Settlement if you do nothing. You have to act, or your attorney have to act to get you out of the deepwater Horizon Settlement.
Real Estate Loss Of Value Cases
Another thing that happened at court on Friday was arguments from both sides on real estate claims where people loss value in their house but are still in their house, so no sale of the house took place. Here is why OPA should cover these claims. Lets take an example first, there is a 1 million dollar house with a $700,000 mortgage on it, then the oil spill happen and the new house value comes out and its now $600,000. The mortgage company comes back to the home owner and says that the mortgage is no good no more as the value of the house is gone. Now the home owner has to go get a new mortgage and probably put up more of his own money because of the oil spill. Another situation is the house goes into foreclosure. There are a lot of home owners that has had big cost sometimes foreclosures because of the BP oil spill and house valuations. The judge will have a look to see if OPA protects people that have loss value in their homes because of the BP oil spill. The judge will rule on this by September.
First Offers Just Came In With Two Different Attorneys
While writing this I got 2 emails from two different law firms that confirm offers have come in the mail today from the Deepwater Horizon Settlement fund. This means the offers are starting to flow to the attorneys first. One of the attorneys told me the offer they hand gotten back was very generous for the client and this sounds good in my ears. One of the offers where for a business claim the other was for a VOO claim. Remember its still not to late to get started, right now there is 40,000 claims in being handled by 300 claims adjusters. Its not to late for you to jump on the attorney ship and get a fair offer back fast from the Deepwater Horizon Settlement fund. Fill out a form today and get started.