More details of the still confidential agreement in principle of the BP Gulf oil spill suggest that the settlement include a scope of liability far beyond what maritime law historically allowed (fishermen, property damage and bodily injury) thanks to the Oil Pollution Act of 1990 and BP's desire to achieve a broad, if not a global settlement. - GWC
BP Settles Deepwater Horizon Lawsuit, Florida Meetings Planned | InjuryBoard Ft. Myers: "The Agreement, the details of which remain confidential until certified by the court after April 16, 2012, will likely streamline the process for filing a claim. In many cases it is believed the terms of the new Agreement will result in a greater financial benefit to a claimant than what is currently offered under the existing GCCF. Among other provisions, The Agreement will provide compensation to businesses located in the affected region that suffered an economic loss. Such areas include most of the Gulf coast, from Florida to Texas.
In addition to business losses, owners of residential properties in the affected region who sold between April 21, 2010 and December 31, 2010 will be compensated a fixed percentage of their sales price. There are several other compensation provisions for other types of losses, including medical benefits, losses related to seafood harvesting, and more."
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