Details: A class action lawsuit settlement has been reached between BP and residents and businesses affected by the “Deepwater Horizon” oil rig spill in the Gulf of Mexico on April 20, 2010. If you or your business were harmed by the Deepwater Horizon Oil Spill, you may be able to get payments and other benefits from two separate legal settlements.

The Deepwater Horizon settlement will resolve a consolidated class action lawsuit alleging BP should be held financially responsible for the 2010 oil rig explosion that spilled more than 4 million barrels of oil into the ocean. BP disputes and denies the claims in the class action lawsuit, but has agreed to settle the case to avoid ongoing litigation.

The BP oil spill settlement will cover two separate classes: those who had economic and property damage and those who have medical claims arising from the oil spill. You may be able to participate in one or both settlements, and will have separate rights and options with respect to each settlement, including filing one or more claim forms.

Deepwater Horizon Economic and Property Damage Settlement:

The Economic & Property Damages Settlement resolves certain economic loss and property damage claims related to the 2010 Deepwater Horizon oil spill. If you are included in this settlement, you could receive money if you were harmed by the oil spill in one or more of the following categories:

Seafood Compensation Program
Individual Economic Loss
Individual Periodic Vendor or Festival Vendor Economic Loss
Business Economic Loss
Start-up Business Economic Loss
Failed Business Economic Loss
Coastal Real Property Damage
Wetlands Real Property Damage
Real Property Sales Loss
Subsistence Loss
VoO Charter Payment
Vessel Physical Damage

There is no limit on the total dollar amount of the Economic Property Damages class action settlement, which BP estimates will be approximately $7.8 billion. With that said, BP will pay no more than $2.3 billion to compensate qualified claimants who are in the Seafood Compensation Program.

To receive payment under the Deepwater Horizon Economic class action settlement, you must submit a claim form. Claim forms will be available online at www.DeepwaterHorizonEconomicSettlement.com starting June 4, 2012. Claim filing instructions will also be available here.

If you have a claim for bodily or physical injury arising from the Deepwater Horizon incident, you cannot file a claim under the Economic Settlement. However, you may be able to make a claim under the Medical Benefits Class Action Settlement.

Deepwater Horizon Medical Benefits Settlement:

The Medical Benefits Settlement will offer benefits to qualifying people who resided in the U.S. as of April 16, 2012, and who were either “Clean-Up Workers” or who were residents in certain defined beachfront areas and wetlands (“Zones”) during certain time periods in 2010.

The Deepwater Horizon Medical Settlement website (www.DeepwaterHorizonMedicalSettlement.com) has detailed descriptions and maps to help you determine whether a geographic location may be included in one of these zones. In general, the zones include certain beachfront areas within at least 1/2 mile of the water and wetlands areas within at least 1 mile of the water.

The Medical Benefits Settlement will provide the following benefits:

1) a compensation program for Specified Physical Conditions;
2) a Periodic Medical Consultation Program; and/or
3) a provision of Back End Litigation Option process for Later-Manifested Physical Conditions.

To request Specified Physical Condition and/or Periodic Medical Consultation Program benefits, you must complete and submit a Proof of Claim Form. You will also need to include supporting documents for the Proof of Claim Form to be accepted. To participate in the Back End Litigation option for a Later-Manifested Physical Condition, you must submit a Notice of Intent to Sue Form. Both of these forms can be downloaded here from www.DeepwaterHorizonSettlements.com.

In addition to the Benefits described above, the Medical Benefits Settlement created a Gulf Region Health Outreach Program for the benefit of Class Members and the general public. This Program consists of integrated projects to strengthen healthcare capacity and increase health literacy in the Gulf Coast areas of Louisiana, Mississippi, Alabama, and the Florida Panhandle. An online library of health and environmental-related materials pertaining to the Deepwater Horizon incident is also being funded.

For more information on both the Economic and Medical Settlements, go to the Deepwater Horizon Oil Spill Class Action Lawsuit Settlement website: www.DeepwaterHorizonSettlements.com.