B.P. Economic Claims Settlement News: Judge Barbier shoots down Oil Company Again

- Oil Giant now to appeal to the Fifth Circuit Court of Appeals, continue motion to change settlement agreement

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Apr 08, 2013, 04:00 ET

BILOXI, Miss., April 8, 2013 /PRNewswire/ -- Legal-Bay LLC, The Lawsuit Settlement Funding Company, reported today that B.P.'s motion to change the settlement agreement interpretation in Federal District Court in New Orleans was upheld by Judge Barbier on Fri. Legal-Bay had accurately predicted that the Judge would rule against B.P., now setting up the stage for appellate process outside of Judge Barbier's courtroom to a higher Court of Appeals. Legal-Bay believes B.P.'s legal strategy is without merit and shows a lack of compassion to the Gulf Area and the businesses that they did so much to harm.

(Logo: http://photos.prnewswire.com/prnh/20130408/PH89997LOGO)

Chris Janish, CEO of Legal-Bay commented on B.P.'s questionable strategy, "It would seem to me that B.P. would have a better chance of filing a malpractice claim against their own attorneys. How does one of the largest companies in the world negotiate, agree, and sign an agreement that they now say is unfair? It is rather comical to think that a Court of Appeals is going to 'feel sorry' for B.P. – especially since as a matter of law the settlement agreement all but disqualifies them of any legitimate Appellate arguments."

Unfortunately, Legal-Bay does believe B.P. is accomplishing a little something, and that is to delay payments and make the B.P. Claims Center focus on processing claims more diligently. Because of this, Legal-Bay believes the B.P. settlement checks going out are going to be seriously delayed. Based on the delay of B.P. settlement checks, Legal-Bay expects their various B.P. funding programs to receive 1000's of funding applications in the upcoming months. Legal-Bay is the leading B.P. Settlement Funding Company, and previously announced that they have secured US$10MM in Capital to fund B.P. Economic Claims.

According to the New York Times, as of Friday 160K claims have been filed, yet only 27K claims have been paid out totaling $1.87Bil. However there are 100's of new claims going in every day to the B.P. Claim center; and the time to file a claim is not up until April of 2014. Legal-Bay says, the process has a long way to go – and how much actually gets paid and the timing of the payments is still anyone's guess at this point.

For business owners in Texas, Louisiana, Mississippi, Alabama, and Florida – including all of Key West that simply cannot wait for their B.P. Settlement check to come and need working capital today, can apply to Legal-Bay online at: lawsuitssettlementfunding.com or by calling toll free at 877.571.0405 where live agents are always available to answer your B.P. Claim funding questions.

Contact: Patty Kirby, Head of Client Relations

Ph. 877.571.0405 Email: [email protected]

SOURCE Legal-Bay LLC