Wednesday, July 17, 2013

Truth About the BP Oil Spill Settlement - Part 4 - Causation Requirements

Truth About the BP Oil Spill Settlement, Postlethwaite & Netterville, Holly Sharp, Settlement Agreement, Florida Oil Spill Claims Lawyer, BP Oil Spill Settlement, GCCF, Judge Barbier, Mr. Juneau
Truth About the
BP Oil Spill Settlement
BP is also dissatisfied with the Independent Accounting Firm and their own Accounting expert. Florida Oil Spill Claims Attorney wants you to know -  Sources in the case determined that profit declines during the claimant-selected compensation period are presumed to be caused by the spill. On behalf of one of the lead lawyers in the BP Oil Spill Settlement, we want you to know and to correct some of the misinformation surrounding BP’s current media campaign. Again, On behalf of the businesses and families of the Gulf Coast, the undisputed factual record establishes that:

"BP also selected and proposed Postlethwaite & Netterville (P&N), an independent accounting firm that had not done any work for either plaintiffs or BP/GCCF, to serve as a Program Vendor. P&N, the independent accounting firm that BP selected, always interpreted the Settlement Agreement exactly the same way that Mr. Juneau and Judge Barbier did."

"BP’s own Accounting Expert, Holly Sharp, studied the Settlement Agreement and submitted a sworn declaration to the Court in August of 2012 confirming that: “Once a business meets the causation requirements, for purposes of quantifying compensation, all revenue and variable profit declines during the claimant-selected compensation period are presumed to be caused by the spill, with no analysis required to determine whether the declines might have been due, at least in part, to other causes.”

Just so everyone knows.

See Also: Postlethwaite & Netterville, Holly Sharp, Settlement Agreement, Florida Oil Spill Claims Lawyer, BP Oil Spill Settlement, GCCF, Judge Barbier, Mr. Juneau

Sources: BP Oil Spill Class Counsel and Doc. 8963-62.