When the BP Deepwater Horizon Economic & Property Damages Settlement Agreement was finalized in 2012, thousands of lawyers, “claims consultants,” and accountants christened themselves “BP claims experts” and went about soliciting business economic loss claims. Many of these professionals had little to no formal financial education or forensic accounting experience. Some likely never bothered to read the 1,200 page Settlement Agreement, its twenty-seven detailed Exhibits, nor the 500-plus follow on Policies subsequently promulgated by the Claims Administrator.
As time went by, and BP challenged certain interpretations of the Settlement Agreement in Court, many of these professionals failed to keep up with the ever changing compensation and causation formulas, new documentation requirements, and preferred appellate procedures. Worse, as claim payments slowed in 2013 and were eventually halted by a several months long injunction, many purported “BP claims experts” left the practice, while leaving their clients hanging.
We have heard from business owners whose claims were undervalued due to the incompetence of practitioners, many who were told they did not meet the causation criteria when in fact they did (thus they failed to pursue their otherwise payable claims), and those who relied upon their CPA, claims consultant or attorney to file their claim by June 8, 2015 only to learn that the professional they retained missed the deadline (which will not be extended).
As the first law firm in the country to exclusively handle claims pursuant to the 2012 Settlement Agreement, as well as one of the only remaining firms focusing on this practice area, we would welcome the opportunity to provide an opinion on the accuracy your claim’s value or otherwise assist you in determining if your attorney or CPA may have committed professional malpractice.
As opposed to most other lawyers and accountants, we remain active and involved at the highest levels of this case, even filing a successful Amicus Brief with the Supreme Court of the United States on behalf of claimants. As such, we believe we are well positioned to evaluate your unique circumstances.
There are no fees or costs for such an evaluation, nor any further obligation to engage our law firm. We are only paid if we are successful at recovering against the negligent professional. Contact us today.