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Recent BP Settlement Developments Should Expedite Recovery for Business Harmed by Gulf Oil Spill

The summer time is peak tourism season along the Gulf Coast, and states like Texas and Florida routinely see an influx of people coming and going which ultimately leads to increase in revenue for these areas. According to Gulf Coast business, in the wake of the 2010 Gulf Coast oil spill, last year’s tourism revenue was one of the worst in recent memory. The consensus among many Gulf Coast businesses is that tourism has substantially increased this summer; however, many businesses are still recovering from the financial setback caused by the oil spill.

In an interview with the Florida State News Paper, Gulf Coast business owner Allen Laird said, “I personally don’t think I saw enough oil to fill up a one-gallon bucket, but [it was the] worst year and only year in 26 years of business that I did less than the year prior, so financially it was devastating.” Laird is like many Gulf Coast business owners, whom have filed claims against BP and have yet to receive settlement nearly two years after the event.

However, the Amaro Law Firm would like to inform Gulf Coast business owners of two recent events which should expedite the process of restoring the losses Gulf Coast business suffered as a result of BP’s oil spill. The first is a new settlement system set up by a New Orleans Federal Court which is designed to streamline the settlement process of personal injury and economic loss claims against BP resulting from the BP Oil Spill. Further, all Gulf Coast business owners or any business affected by the Gulf Coast oil spill may still join in the settlement.

Second, an act known as the RESTORE ACT is currently before United States congressional committees. Sources say the act would send states affected by the Gulf Coast oil spill an estimated $18 billion dollars. Reportedly, the bill would take fines collected from BP and other companies responsible for the oil spill, put 20 percent in a trust fund and split the remaining 80 percent between the five Gulf Coast states affected by the oil spill. Sources say of the states’ money, five-percent would be put into a research, 35- percent would be split up directly among the states, and 60-percent would be divided in half, with one part going to the federal and state governments for restoration, and the other being divided among the states. Reportedly, the RESTORE Act has already passed the U.S. Senate, and the House version is in a conference committee as part of a larger transportation bill. The Amaro Law Firm encourages Gulf Coast business owners to call their local congressmen and voice their support for the RESTORE ACT.

The Amaro Law Firm is currently helping several hundred injured cleanup workers across the United States affected by the cleanup of Gulf Coast oil spill. If you or anyone you know has experienced health issues or any other type of damage related to the BP Gulf Coast oil spill or clean-up effort, please feel free to contact one of the Amaro Law Firm's experienced attorneys at 713-864-1941 or toll free at 877-292-8797.