Case Funding Inc. Recommits Capital to BP Claims Funding Program As BP Makes Supreme Court Bid to Stall Payments and Reverse Settlement Agreement
NEW YORK, May 27, 2014 /PRNewswire/ -- Case Funding Inc. will continue making payouts to approved businesses and individuals through its Deep Water Horizon Claims Funding Program despite BP's request to be heard by the US Supreme Court. The oil giant, BP, has made several attempts to stall payments to businesses and individuals who qualify for payouts according to the class action settlement agreement it negotiated several years ago. BP was successful in stalling payments from December of 2013 to March of 2014 while it awaited the decision of a three judge panel from the Fifth Circuit Court of Appeals, however after a recent upholding decision made by all thirteen active judges on the Fifth Circuit, BP is running out of other methods to stall. Case Funding's in-house attorneys have speculated that BP does not have a very strong chance of being heard by the Supreme Court, as the result of their contract dispute will not likely be applicable to national lawmaking.
Though the injunction on payments has been lifted and payments have resumed, the frequency of payments has slowed from over 4,000 payments made per month in 2012/13 to just under 1,000 per month as reported in the Public Statistics for the Deepwater Horizon Economic and Property Damages Settlement issued in May. Approved BP DWH Settlement applicants in need of funds before they are paid by the Claims Administrator can apply to Case Funding's Deep Water Horizon Claims Funding Program at Casefunding.com.
ABOUT CASE FUNDING: Based in New York, Case Funding Inc. is one of the largest legal finance companies and an industry leader that provides working capital loans to attorneys, medical funding to uninsured plaintiffs, and presettlement advances to personal injury victims. Call 888-796-7594 to speak with one of our legal finance specialists and apply.
SOURCE Case Funding Inc.