The BP Settlement Agreement entered into on April 18, 2012, has broad application to most businesses operating anywhere in Alabama, meaning your business may be eligible for a settlement. Eligibility is based upon a gross revenue test with no requirement to prove direct causation. The revenue test is fairly simple but does require analyzing monthly revenue over a 60 month period. We are finding that it is surprising how many Alabama businesses will qualify and the potential claims are, in some cases, very substantial.
If you are interested in finding out whether your business may be eligible, we recommend you contact your JMF accountant or Dianne Rumanek at 205-366-4065 or BPClaims@jmf.com. We have partnered with the Cunningham Bounds law firm in Mobile who have been very involved in the settlement and are extremely responsive in helping many businesses seek substantial recoveries. They will provide a free evaluation of whether your business might be eligible for an oil spill claim. Once the attorneys have determined that your business is eligible to file a claim, the claim calculation itself is fairly complex. In either case, whether you are eligible or not, you will not incur any costs or accounting fees. Those costs will be paid by the law firm or out of the claim proceeds.
We encourage you to discuss the possibility of claims with your JMF accountant.
Dianne Rumanek, CPA
on behalf of your BP Claims Eligibility Team at
For more information contact your
JMF CPA or