BP Deepwater Horizon Oil Spill

The BP Deep Water Horizon Oil Spill wasfinancially devastating for the entire Gulf Coast in 2010. Thousands of potential visitors to the Florida Coasts cancelled or revised planned trips to the area due to fear of oil impact on the Florida beaches. Many owners of condominium rental properties lost thousands of dollars in rental revenue due to this spill.

BP has accepted responsibility for this oil spill and has reached a Class Action Settlement with the Louisiana District Court which places your property within the Class of this settlement. Accordingly, you are likely eligible for a claim under the Settlement Program.

As your Management Company, we have negotiated with Carr, Riggs and Ingram, LLC (CRI) the foremost CPA firm preparing claims under the program, to prepare a claim on your behalf for your lost revenue. CRI is the 29th largest CPA firm in the United States and actually helped structure the settlement calculations during the negotiations phase with BP. The terms of the settlement are extremely complex, but offer a variety of ways to calculate your loss. Your revenue may have increased annually, but may have decreased in select months which may qualify you for a claim.

We have negotiated a fixed fee with CRI for a total of $1,750,000 per claim to prepare, calculate and oversee the documentation and collection of your claim. Your claim amount will be prequalified before your incur any costs to insure the claim would warrant filing.

CRI’s experience would suggest that most of our rental owners would be entitled to a worthwhile claim. We have already submitted information on several units and the claim amounts have varied from $11,000 to $30,000 per unit.

We will supply CRI with all documentation to determine a preliminary claim amount. If you then agree to move forward, you will need to supply your income tax returns for years 2007 to 2011. CRI will supply you with a secure internet portal or these can be mailed directly to CRI.

We have put together a…

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