8.25.10 - Gulf Coast Claims Facility Administrator Kenneth R. Feinberg announced on Monday that the Gulf Coast Claims Facility (GCCF) is fully functioning and will begin to process claims for emergency payment. All supporting documentation has been transferred from BP to the GCCF, which is an independent facility run by Feinberg.  Claimants will be required to file new forms with the GCCF to receive payments.  If you have an existing BP claim number, you will need the number in order to request your new GCCF identification number online.  New claims will be assigned a GCCF identification number.

The goal of the GCCF is to have every claim reviewed within 48 hours for individuals and 7 days for businesses after receipt of the claim form and sufficient supporting documentation.

You can file your claim through the website below, by visiting a GCCF Claims Site Office (listing of locations is on their website), by mail, fax or e-mail.

You may contact the GCCF directly at www.GulfCoastClaimsFacility.com or (800) 916-4893.

Should you need any assistance in completing your claims form or documenting your claim, please contact O'Sullivan Creel at 888-822-5619 or e-mail oilspill@osullivancreel.com.

8.12.10 - On August 23, 2010, Kenneth Feinberg will open his Gulf Coast Claims Facility and assume control of all payments for all commercial damage claims related to the spill.  This week,  Mr. Feinberg held a public forum at the University of West Florida regarding the claims process and how he envisions it in the future.

Key points addressed during the forum included:

  • Individual claims will be responded to within 24 hours.

  • Business claims will be responded to within 7 business days.

  • Six months of claims will be paid as part of the initial payment (claimant can pick the six months). No rights will be waived with initial payment.

  • After the six month payment, claimant must submit a final claim to the fund for the time frame ending April 23, 2013.  If settlement is approved, a waiver must be signed.

  • Claims will be evaluated based on

    • Proximity to the Gulf,

    • Industry dependence on the claim,

    • And dependence on the natural resource (Gulf of Mexico waters).

  • Physical oil on the beach is NOT required.

  • Month of May claims WILL be paid.

  • Diminution of value will NOT be paid.

  • When directly asked, Mr. Feinberg saw no situation in which commercial banks would have a compensable claim from the fund related to the spill.

  • Claims documentation from BP will be transferred over BUT claims will need to be re-filed.

  • Claims status will be available online 24/7/365.

  • Accountant, attorney and expert fees will not be reimbursed.

  • It's critical to know that what has been filed with BP to date is NOT a claim BUT a interim payment request.  Lost growth in earnings has not been considered by BP to date.

  • The Feinberg group will step into the shoes of BP with regards to presentation contemplated under OPA (90 day clock).

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So far, BP states it has paid out approximately $277 million in claim payments and written more than 93,000 checks to individuals and businesses. The company has agreed to pay out claims from a $20 billion fund over the next three years. However, business owners and Gulf residents have complained about frustrating delays.

6.17.10 - O'Sullivan Creel Offers Oil Spill Claims Information Packet

5.14.10 - SBA Approves Disaster Loan Programs for Gulf Coast Businesses

5.5.10 - Disaster Preparedness & Recovery Tips

5.3.10 -  Gulf of Mexico Oil Spill Information

The impact of the Gulf oil spill on our lives is yet to be measured. The potential is staggering. The ecological and economic damage could be immense. The economic effects from the ecological damage could be more pervasive and long lasting than we'd like to think.

Be sure to put yourself in the best possible position to preserve your economic well-being. Now is the time for documentation in anticipation of possible claims submitted to insurance companies, BP Petroleum and any sources of government assistance.

O'Sullivan Creel has assembled a task force to provide services to local businesses such as business valuations, economic damage calculations, and more.

Individuals owning property near any site of potential ecological damage should take steps to document the current condition of the property – photos, videos, securing evidence of value, etc. We've learned that BP is proactively reaching out to businesses to urge the signing of a release for a $5,000 cash settlement. We urge you to consult your attorney before signing any release.

Business owners should take steps to document the current budgeted and/or current anticipated revenues before the drilling accident. We have recently seen an upturn in revenues for some of our clients, and for businesses in that situation it is reasonable that the up-trend can be projected in your business planning. These budgets, forecasts and projections will ultimately become the baseline against which damages are measured. Our experience in helping clients after Hurricane Ivan taught us the importance of establishing this "pre-casualty" baseline.

Depending on the circumstances of each business, there may be other protective steps you should consider. We will be glad to consult with you to help best prepare you.

After the Exxon Valdez oil spill, the Oil Pollution Act of 1990 created the Oil Spill Liability Trust Fund (OSLTF), which provides up to one billion dollars per incident in oil spill response and recovery, including economic recovery. Businesses, including hoteliers, sport fishing charters, watersports rental companies, etc., that may be negatively impacted are encouraged to:

  • keep detailed profit and loss records as mentioned above and track any cancellations, should a claim need to be presented

  • take photos of your property as mentioned above for documentation purposes

  • consult your attorney before signing a release for cash settlement

 

The OSLTF was established to provide:

  • Funds for Federal cleanup 

  • Funds to assess and restore damaged natural resources 

  • Compensation to claimants for certain removal costs and damages resulting from an oil spill incident

  • Cost recovery from responsible parties for costs and damages paid from the OSLTF

 

Claim types allowed under Oil Pollution Act include:

  • Removal Costs

  • Real or Personal Property Damage 

  • Loss of Profits and Earning Capacity 

  • Loss of Government Revenue 

  • Cost of Increased Public Services

  • Subsistence Loss

  • Natural Resource Damage

O'Sullivan Creel, LLP is providing you with several resources below that can help navigate the resources and information available.

Claims information
 Deep Water Horizon Response
 NOAA
 EPA Website
 Ocean Circulation Group (several models of oil spill trajectory)
 Escambia County Disaster Response
 Okaloosa County Disaster Response
 Baldwin County Emergency Information
 Mobile County Emergency Information

 If your business is adversely affected by the oil spill, there are specific conditions under which you may recover costs and damages. Please call our Oil Spill Task Force at 888-822-5619 or e-mail oilspill@osullivancreel.com to assist you with any of the claims listed above. 

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