To All BP Economic Loss Clients
As expected, BP filed its Petition for Writ of Certiorari (appeal) to the US Supreme Court recently. A copy of BP’s petition can be viewed here.
BP has requested that the Supreme Court hear its case and reverse the two decisions of the United States Fifth Circuit Court of Appeals regarding class certification and how business claims are calculated under the class action settlement. We agree with the majority of legal commentators that there is little likelihood of success for BP at the US Supreme Court. However, we caution that anything is possible.
In its petition, BP noted that there are approximately 130,000 claims currently pending, and that the number continues to grow as claims are still being filed. Thus, we ask for your continued patience while these claims are processed or re-processed under the new Matching Policy (No. 495) regarding the matching of expenses to revenues for BEL claims.
As previously reported, Policy 495 affects all claims, but particularly cash basis claims for businesses in the construction, professional services, agricultural and educational industry fields and will likely require additional documents and information. This process will take additional time to get to ultimate Eligibility Determinations. However, it is our understanding that the Claims Administrator will add approximately 200 accountants and make improvements to the Program’s IT system in order to more efficiently process and re-process these claims.
Bruce D. Burglass, Jr.