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Deepwater Horizon Financial Claims Settlement Resource Guide NAACP Gulf Coast Financial Capacity Building Initiative.

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Presentation on theme: "Deepwater Horizon Financial Claims Settlement Resource Guide NAACP Gulf Coast Financial Capacity Building Initiative."— Presentation transcript:

1 Deepwater Horizon Financial Claims Settlement Resource Guide NAACP Gulf Coast Financial Capacity Building Initiative

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3 Goals Review the GCCF transition to the Settlement Program Settlement Program Claim Requirements Settlement Program Zones Validating Your Claim Completing Your Claim

4 Step # 1 Claims Settlement Overview

5 Deepwater Horizon Financial Claims Settlement On May 2, 2012, the Court granted preliminary approval of the Economic Class and the Settlement, and ordered that the Court-Supervised Settlement Program should begin accepting claims on June 4, People have until November 8, 2012 to submit a claim. The Court will consider final approval of the Settlement at a Fairness Hearing scheduled for November 8, 2012.

6 Who is involved in the settlement? The Economic and Property Damages Settlement is a class action settlement. Here, the class representatives are the individuals and businesses named as plaintiffs in the Class Action Complaint. These "Economic Class Representatives" represent a larger group of individuals and businesses with similar claims (the "Economic Class"). Those who meet the class definition are called the Economic Class Members.

7 Step # 2 IDENTIFYING CLAIMS

8 Settlement Categories or Economic & Property Settlements This Settlement involves 8 different damage categories: 1.Seafood Compensation Program 2.Economic Damage Claim Process  (Including economic loss claims by Businesses, Failed Businesses, Start-Up Businesses, Individuals, and Individual Periodic Vendors and Festival Vendors) 3.Subsistence Damage Claims Process 4.VoO Charter Payment Claims Process 5.Vessel Physical Damage Claims Process 6.Coastal Real Property Damage Claim Process 7.Real Property Sales Damage Claim Process 8.Wetlands Real Property Damage Claims Process

9 Step # 3 Validate Your Situation

10 How do I know if I am economic class member? Do you live in the U.S.? At any time between April 20, 2010 and April 16, 2012, did you: - live in the Gulf Coast Areas - work in the Gulf Coast Areas or Specified Gulf Waters - get offered and accepted work in the Gulf Coast Areas or Specified Gulf Waters - own or lease property in the Gulf Coast Areas - own, lease, or work on a vessel harbored or home- ported in the Gulf Coast Areas or Specified Gulf Waters

11 How do I know if I am economic class member? OR Did you work on a vessel in Specified Gulf Waters that landed Seafood in the Gulf Coast Areas after April 20, 2009? OR Do you have any economic loss arising out of the Deepwater Horizon Incident?

12 Determine your Geographic Location The location of your property is a factor in determining if your property is eligible for that type of claim, and if so, the amount of your payment. For example, to be eligible to make a claim for Coastal Real Property Damage, Real Property Sales Damage, and Wetlands Real Property Damage, your property must be located in the Claim Zone applicable to one of those Damage Categories. You can find out what Zone(s) you, your business, or your property may be in by using the interactive mapping tool, which allows you to search the maps by entering an address, latitude and longitude, or pointing to a specific location on the map. Or you can call the Settlement Program at or visiting a Claimant Assistance Center.

13 Step # 4 Settlement Zones

14 What zone do I qualify for? You can find out what Zone(s) you, your business, or your property qualify by using the Deepwater Horizon Mapping Tool Paper versions of the map & zones are available. Both online and paper versions are available in the “Maps” tab. For the online version go to maps and find the interactive mapping tool.

15 What zone do I qualify for?

16 So What Claims are Excluded from the settlement? Bodily Injury Claims Claims by BP shareholders in any derivative action or direct action solely in their capacity as a BP shareholder Moratoria Loss Claims Claims relating to menhaden (or "pogy") fishing, processing, selling, catching, or harvesting Claims for economic damage suffered by entities or employees in the Banking, Gaming, Financial, Insurance, Oil and Gas, Real Estate Development, Defense Contractor Industries, and entities selling or marketing BP-branded fuel Claims of the Economic Class for punitive damages against Halliburton and Transocean Assigned Claims of the Economic Class

17 If I qualify as an Economic Class Member, am I required to participate in the settlement? File a Claim Opt Out If you do nothing, you will not get a payment from this settlement. Unless you Opt Out, you will not be able to start a lawsuit, continue with a lawsuit, or be part of any other lawsuit against BP.

18 What if I object to the terms of the settlement? Send a letter explaining your objection to the proposed Economic & Property Damages Settlement. Through an attorney hired at your own expense. Your attorney will have to file a notice of appearance with the Court by August 31, Fairness Hearing on November 8, 2012 at which the Court will consider any objections to the Settlement and determine whether to grant final approval of the Settlement Agreement

19 Step # 5 The Registration Form

20 Do I have to file a Claim to get a Settlement Payment? Regardless of whether or not you previously filed a claim with BP or the GCCF, you must file a claim with the Settlement Program to request any Settlement Payments for which you may be eligible. GCCF Closed March 8 th Kenneth Feinberg Settlement Program Opened June 4 th Patrick Juneau

21 Two Steps to begin the registration process: Registration Form Claims Form Can be completed online by mail, fax, or in person Paper Forms call:

22 How do I submit documents to support my claim? Online: Follow the instructions. In Person: Claimant Assistance Centers. Mail: Deepwater Horizon Court-Supervised Settlement Program P.O. Box 1439 Hammond, LA Fax: Fax your Supporting Documentation to the Settlement Program at 1-(888)

23 Important facts before you apply! You can participate in the settlement even if you received payment for BP, from the GCCF if you did not sign a Release and Covenant Not to Sue Apply even if the GCCF denied or rejected your initial claim and this cannot be held against you during the Settlement Program’s evaluation of your claim. If you had a claim pending with the GCCF, it was transferred to the Transition Process on March 8, 2012, and then transferred to the Settlement Program on June 4, You must apply through the Settlement Program. You must file all of your claims before the close of the Settlement Program, which will be April 22, 2014 ◦ Seafood Compensation Program December 8, 2012.

24 Where can I go for help? There are Claimant Assistance Centers located throughout the Gulf region staffed by individuals trained to assist you with your Settlement claim. Call to find a Claimant Assistance Center near you.


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