Your questions answered on the BP Gulf Coast Oil Spill Settlement, what does it mean for you?

 

 

 

The Legal Broadcast Network we are joined by two of the key attorneys in the BP Gulf Coast Oil Spill Settlement, Attorney Frederick "Rick" Kuykendall of Kuykendall & Associates of Fairhope, AL and Attorney Wes Farrell of the firm Farrell & Patel of Miami, FL, who cover a wide range of questions and answers on what the BP Gulf Coast Oil Spill Settlement means to you.

The Settlement which was announced late last week by US Federal Judge Carl Barbier covers the settlement of private individual and business claims for economic loss, damages and potential physical injury related to the Gulf Coast oil spill. After a long and difficult negotiation it is clear that the Gulf Coast Claims Facility that was headed up by Kenneth Feinberg is going to be phased out quickly and that a brand new settlement facility or mechanism is about to take it's place.

Some of the issues discussed in this wide ranging interview address the major questions being asked by Gulf coast residents, lawyers and businesses, such as:

  • What happens to my claims that are already submitted to the GCCF but have not yet been paid?
  • What are my options if I have already settled with the GCCF? Do I have the opportunity to have my claim reviewed again for a higher payment?
  • What if I have never filed a claim for damages, do I have the option to file a claim now to the new court supervised facility?
  • Do I need to engage an attorney to assist me in the process or is it possible to handle this myself?
  • When will checks or claims be paid on the Gulf Coast Oil Spill? How long of a wait can I anticipate?
  • What kind of evidence or proof will be needed to process my claim?

This is going to be the first in a month's long series of conversations with both of these attorneys, but also other leading lawyers, settlement experts, tax and financial consultants and others who will be addressing the wide range of issues facing those involved in the settlement. The sheer size of the settlement fund, estimated at in excess of $14 billion, as well as the number of claimants, currently set at greater than 100,000 gives you an idea of the scope of this undertaking. Future shows will discuss the taxation of settlement payments, the design and purpose of the 21 year medical set aside and health monitoring facility, the $100 million allocation for study of the long term environmental impacts and other important questions.

Attorney Rick Kuykendall is one of the leading attorneys and experts on the Gulf Coast Oil Spill litigation and has decades of experience in litigating mass tort claims nationwide. His firm is based in Fairhope, AL.

Attorney Frederick "Rick" Kuykendall  

 

 

 

 

Attorney Wes Farrell is recognized as one of the leading Attorney's in the Southeastern US and represents scores of businesses and indivduals impacted by the Gulf Coast Oil spill. His firm, Farrell & Patel is located in Miami, FL.

Attorney Wes Farrell, Miami, FL