The BP Settlement Program – A Legal, Economic and Environmental Perspective of the Disaster and Resulting Landmark Agreement
The April 2010 Deepwater Horizon oil spill was the worst oil spill disaster of all time. It devastated the Gulf Coast, both economically and environmentally. BP knew it had to address the massive amount of business litigation it would soon be facing. Therefore, after long and fierce negotiations between BP and Class Counsel, BP argued before the U.S. District Court in New Orleans that a Settlement Agreement reached saying it was Fair, Reasonable and Adequate. The Deepwater Horizon Economic Settlement Program was initiated and granted final court approval on December 21, 2012. It is scheduled to conclude on April 22, 2014. However, BP has used the Appeals process to delay paying claims and has continued to vilify attorneys helping victims to file claims in the Settlement. While there is reason to believe that despite BP's legal maneuvering and delay most claims will eventually be paid, the question is -- when?
The broad economic impact of the spill cannot be denied. Most businesses located in a Gulf Coast region are eligible for claims under this Program. The Settlement Program is designed to compensate businesses and individuals for losses shown through required financial data using objective formulas and methodologies. To date, more than $3.7 billion has been paid under the Program. The filing deadline originally thought to be April 2014 may or may not be extended due to BP’s legal maneuvering, causing an opportunity for new claim filings and certainly more delays in claims being paid.
In this webinar, a panel of legal, business and environmental experts will discuss this landmark Settlement Program from all perspectives. It will include:
- An overview of the facts and negotiations that led to the Settlement
- A study of the business segments involved and how the Program applies to them.
- The rights businesses have and what steps do they need to take
- A present-day look at the environmental damage and what the region could be facing for the long-term
- What has been BPs response and has it been enough?
- BP’s recent legal and public turnabout, and the current legal climate
- Cash vs. Accrual accounting and how that affects filings
- Analysis of issues raised in recent filings relating to class certification and how it will affect future MDL litigation
Faculty:
Mike PalmintierPartner
DeGravelles, Palmintier
Holthaus & Fruge, LLP
BP PSC Member
Rhon Jones
Beasley Allen Law Firm
BP PSC Member
Henry “Hank” Didier
Founding Partner
Economic Recovery Group
Alan Zimmerman
Founder
LawFinance Group
How It Works
Single Connection: $99.00
Additional Connection at the same Organization: $50.00
A site connection allows a single connection to the web conference. That connection is open to any number of users in a collaborative setting. Because there are no travel expenses and only a single registration fee is required, each additional participant lowers the cost per participant significantly.
By purchasing a site connection, you can invite as many people as you would like to view and participate in the session from a single location. Set up the session in a conference room and project the presentation and chat on a large screen. You also have rights to distribute copies of the presentation materials to everyone involved. Please note that audio is received via the phone line and must be broadcast to your group.
If for any reason a relevant stakeholder cannot co-locate for the session, we encourage you to include that person by purchasing an additional connection at the reduced fee of $50 per session. This will ensure that every member of a team receives the same relevant, timely information in the most efficient way. If you have any technical or purchasing questions, please contact us at (818) 888-4444.
CANCELLATION, REFUNDS & CREDITS
Should you be unable to attend, a refund, less a $50 administrative charge, will be made for cancellations received via letter or fax at least 3 working days before the event. We regret cancellations will not be accepted after that date. However, we will be pleased to transfer your registration to another member of your company or credit the registration fee to another Infocast conference if you register within 6 months from the date of this conference. In the event the conference is canceled, Infocast’s liability is limited to the refund of the conference registration fee only.