Oil giant BP has requested that oil spill claimants return money paid to them under a compensation calculation method that has since been altered, wwltv.com reported on June 25.
Despite BP’s desire to re-gain some of the money it had to shell out, the company may encounter problems due to language in the contract claimants signed that protects them from future changes in the settlement process.
The new calculation policy involves a more complex comparison of spending and profits that spans a wider range of business activity than that directly surrounding the oil spill. It is intended to create a more accurate projection of business losses caused by the environmental disaster, although it has also created the necessity for the claims administrative team to extensively review the 20,000 pending business loss cases.
Our knowledgeable attorneys at Williams Kherkher can help you file your oil spill claim or appeal a rejected spill claim. Discuss your situation and legal options by calling 800-821-1544 today.