Following up the report Gulf Oil Spills Into Lawsuits, it seems BP LLC is starting to take action, but not all of it is welcome.
The Orlando Sentinel reports that outside Florida’s panhandle BP has denied claims, despite major losses to tourism-based businesses. Chairman of the Florida Restaurant & Lodging Association Keith Overton affirms that BP denied a claim by a resort property where oil had not reached its beach. The $2 million claim was based on a documented loss of revenue compared to revenues from the previous three years.
The State of Alabama has reportedly filed a claim with BP for approximately $148 million to restore what was lost in its tourism economy and the tax revenue it generates.
The predicted legal cost to BP is more than the $20 billion the company has promised for a claims fund, reports Reuters. A federal panel will oversee hundreds of lawsuits from hotel owners, fisherman and injured rig workers. About 300 lawsuits have been filed to date, with tens of thousands of people estimated to have retained a lawyer but not yet sued.