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Business Law & Oil Spill Claims

Has an oil spill caused your business to lose money?

Business Law and Oil Spills

One of the most damaging aspects of oil spills is the very real impact that they have on businesses in the area. For example, your business may have been severely impacted when oil came ashore or it may have been a more indirect loss when prospective tourists chose to stay away due to a negative perception of the area. Regardless, the interruption of business and the loss of potential wages is very real and can have a very real impact on the future of your business. Therefore, it is crucial that you get help from our law firm.

About the BP Class Action Settlement

As part of a class action settlement reached following the 2010 Gulf of Mexico oil spill, businesses that have sustained economic damage may be entitled to financial compensation. BP has set up a $20 billion escrow fund that is being used to help businesses and workers who have suffered as a result of the disaster. It is designed to support individuals and businesses from Louisiana, Mississippi, Alabama, Florida, and Texas.

Businesses can file a claim to be compensated for a variety of reasons, such as:

  • Personal Income of Employees
  • Lost Business Profits
  • Reduced Earning Capacity
  • Damage to Business Property

Understanding Business Interruption Claims

Many businesses impacted by oil spills seek benefits under business interruption insurance for compensation that covers the income that they lost while they remained closed-either during the disaster itself or during the time where they were attempting to rebuild. In addition, businesses may be able to seek compensation to cover extra expenses that were incurred if they were required to operate out of a temporary location. This could include rent for this temporary location, utility payments, taxes, and even mortgage payments.

Let Arnold & Itkin help represent your business!

Some industries that can be impacted by oil spills include:

  • Fishing Industry
  • Wholesale Industry
  • Retail Industry
  • Tourism Industry
  • Manufacturing Industry

If you are in one of the industries described above or if your business has been impacted by an oil spill, we encourage you to contact our oil spill claim lawyers immediately. Our firm is well-versed in business law, as well as maritime law, and we can help you to ensure your business is properly compensated.

To learn more about how we can help, do not hesitate to contact us for a confidential consultation.

What is it Like To Work With Arnold & Itkin

Arnold & Itkin represented nearly a third of the crewmembers injured in the Deepwater Horizon explosion.

I encountered professionalism, understanding, compassion… lot of compassion. They really felt for what me and my wife were going through.
~ Deepwater Horizon Crew Member

Work with a lawyer who truly understands Maritime Law.

Because maritime law is so complex and so complicated, it is crucial that you work with an attorney who has an in-depth understanding of how it works and who has proven themselves in similar cases before.

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