B.P. Economic Settlement Claims News: Appeal Decision Still Weeks Away, Says Legal-Bay

- Lawsuit Funding Firm keeps a close eye on the latest B.P. attempt to alter the landmark B.P. Economic Claims Settlement Agreement, and believes B.P.'s latest appeal will be denied.

Jul 16, 2013, 04:30 ET from Legal-Bay LLC

NEW ORLEANS, July 16, 2013 /PRNewswire/ -- Legal-Bay LLC, a leader in B.P. Claim Settlement Funding, announced today that the latest B.P. Appeal to the economic claim's settlement agreement that was heard in the 5th Circuit for Federal Appeals, will not be decided for another few weeks.  However, Legal-Bay is reporting that they expect B.P. to again be denied by the Court's to alter the settlement agreement, based on their contacts close to the situation.

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To date, B.P. has already paid out US$4Bil in claims to approximately 44,000 eligible claims, as reported by the NY Times.  However, B.P. is gravely concerned that the claims could rise to close to 200K and top the US$8Bil. that B.P. has currently accounted for.  The plaintiff's lawyers believe that B.P. is simply trying to "back out" of an agreement that they negotiated and signed after doing substantial due diligence; and hence the appeals have no grounds for changes. 

Chris Janish, CEO of Legal-Bay commented, "The B.P. settlement was intended to assist the businesses that were harmed by the B.P. Spill, but in reality many of these businesses are now being harmed additionally as B.P.'s tactics have only delayed their rightfully due settlement checks.  We have been receiving countless B.P. Business owner funding applications who are in need of capital financing because they had fully expected to have their checks by now, and simply can't wait any longer.  What is worse, is at this point no one knows when the checks will be coming."  Legal-Bay is offering B.P. Business owners the opportunity to receive a B.P. settlement cash advance, http://lawsuitssettlementfunding.com/bp-gulf-lawsuit-settlement-funding.php, now instead of waiting what could be a long drawn out process all the way to the U.S. Supreme Court. 

One law firm is uncertain if the U.S. Supreme Court will even hear the case after the evidence that was presented to the Appeals Panel.  Kevin C. Schoenberber, whose firm specializes in personal injury cases and B.P. lawsuit claim filings, believes B.P. has an uphill battle in their pursuit to change the settlement.  "Based on the mountains of evidence that were presented by the plaintiffs, it is apparent that B.P.'s lawyers were keenly aware of the precise terms of the settlement.  And that B.P. actually welcomed the opportunity of the plaintiffs to obtain the most aggressive awards possible under the financial calculation model that was designed by both sides during lengthy negotiations.  To now ask for a 'do over' from the appeal's panel simply doesn't hold much legal merit in my opinion; and I'm uncertain the High Court would even entertain listening to more oral arguments on a case in which there was a settlement that was clearly negotiated and signed by B.P.'s own lawyers." 

However, with all the legal uncertainties, Mr. Schoenberger urges business owners affected by the spill in the five states of: Louisiana, Texas, Mississippi, Florida, and Alabama to file a claim at their earliest convenience.  For a free B.P. legal consultation for either your business, or for a personal injury or a B.P. Medical Claim, you may call Mr. Schoenberger's office in New Orleans directly at: 504.525.1143. 

If you are a B.P. business owner that already has a lawyer or - or a lawyer in need of an attorney funding - and filed a B.P. Claim in the Claim center, and would like either a cash advance up to $100K or a larger credit facility up to $1MM secured by your B.P. settlement claim, you may contact Legal-Bay directly at: http://lawsuitssettlementfunding.com or by calling their toll free hotline at: 877.571.0405 where live agents are always standing by to assist you. 

Contact:  Patty Kirby, Head of Client Relations, info@legal-bay.com