B.P. Economic Claim Settlement News: Gulf Area Businesses Outraged At B.P.'s Latest Appeal Tactic
- Legal experts expect harsh rhetoric from the court regarding B.P.'s request to alter the economic claims settlement; some hint that B.P. could face new fraud charges from the various State A.G.'s if they try to manipulate the settlement and payment process
NEW ORLEANS, April 4, 2013 /PRNewswire/ -- Legal-Bay LLC, The Lawsuit Settlement Funding Company, announced that their business clients seeking cash advances from the B.P. Claims are completely outraged that B.P. would again try to manipulate the settlement process that they original agreed to. Many members of the Gulf Region from Texas, Louisiana, Mississippi, Alabama and Florida feel that B.P. is completely disingenuous of their commitment to the gulf area's businesses says Legal-Bay. (Logo: http://photos.prnewswire.com/prnh/20130404/PH88169LOGO ) In December 2012, Judge Barbier in New Orleans Federal District Court signed off on a detailed B.P. Economic Settlement Agreement that B.P. seemed extremely satisfied with. In fact, B.P. made a public statement that day stating, "We believe the settlement, which avoids years of lengthy litigation, is good for the people, businesses and communities of the Gulf and is in the best interests of BP's stakeholders." B.P. was even pleased with the court appointed B.P. Claims administrator, Patrick Juneau. However, since the time of the settlement, B.P. has filed motions to delay payments, sued Juneau – and now has ultimately appealed Judge Barbier's motion denials to alter the settlement agreement in District Court. It is widely expected that the judge will rule in favor of the plaintiffs tomorrow, April 5, with some harsh words to B.P.; although that may not stop B.P. from appealing to an Appellate Court – which could drastically hold up the B.P. Settlement process. Legal-Bay is the leading company in the lawsuit settlement funding industry in B.P. Lawsuit Funding. They provide needed capital to keep businesses afloat while they wait for their B.P. settlement check. Patty Kirby, Head of Client Relations at Legal-Bay, commented, "Our clients are incredulous that B.P. has again tried to delay their payments, especially since they run commercials how they are committed to the entire gulf region. Some of them now believe that B.P. will delay this process for years if allowed to, and most of our clients can ill afford for that to happen; hence business owners have been contacting our offices to apply for our various B.P. claim funding programs at record numbers over the last month or so." Legal-Bay has been a public advocate for individuals and business owners destroyed by the gross negligent actions of the B.P. Oil Spill. They are in touch with some of the top law firms throughout the 5 states affected, and most of the attorneys they have spoken with have said B.P.'s latest tactics is about stalling the payments, appeasing their shareholders, and devoid of legal merit.