As you may have read, the Gulf Coast Claims Facility (GCCF) oil spill claims process has been terminated. A new claims process and methodology is being administered under the direction of The Court Supervised Settlement Program (CSSP). Recent changes include:
*Many claims previously denied will now be reconsidered for payment.
*New formulas can dramatically increase losses (or yield losses where the GCCF calculation showed none).
*All claimants MUST file a new claim to receive a payment under the new rules.
*All claimants MUST elect to opt-out of the settlement by October 1, 2012, or they are bound by the new rules.
*Claimants in certain coastal areas are not required to prove their losses resulted from the oil spill.
*Start-up businesses and failed businesses are eligible for payment.
*Tourism-related businesses are eligible to receive up to 2.5 times their 2010 losses.
CRI’s team is among the most knowledgeable in the Gulf Coast region having filed thousands of BP oil spill claims and successfully negotiated tens of millions of dollars in recovery payments.
CRI’s Oil Spill Team will be hosting town hall meetings in your area to explain your rights and entitlements under these new claimant-friendly methodologies. The town hall meetings will include explanations of the new CSSP rules, and complimentary claim evaluations are available.