Question 1: Who is the settlement for?
The proposed settlement was offered by BP to all plaintiffs in the April/May 2010 Chemical Release case. Only those people with an active, filed case may participate. The Court-appointed Special Master will determine individual allocations for those that turn in a signed and notarized Compromise Settlement Agreement and Release form.
Question 2: How much money will I receive under the terms of this proposed settlement?
The portion of the proposed settlement with BP to be distributed to all settlement participants is $5,000,000. However, the amount each person may receive individually is expected to be relatively small, given the large number of potential claimants. Currently, we cannot provide you with a specific dollar amount that you will receive because we do not know exactly how many claimants will participate, and we do not know exactly how the Special Master will determine the amounts due each plaintiff. What we can say is that each plaintiff who participates will receive some compensation.
Question 3: When should I expect to receive my money?
The Special Master has not yet been appointed so there are many unknowns at this point, but one would expect that the soonest that monies would be disbursed would be sometime in 2017.