B.P. Settlement Funding News: B.P. Asks Federal Appeals Court to Dismiss Entire Business Economic Claim Settlement

Lawsuit Claim Funding Firm, Legal-Bay, reports surge in business owners seeking cash advances from their B.P. Lawsuit now that all claims in the B.P. Claim Center seem to be on hold indefinitely.

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Legal-Bay LLC

Nov 07, 2013, 05:00 ET

NEW ORLEANS, Nov. 7, 2013 /PRNewswire/ -- Legal-Bay LLC, The Lawsuit Settlement Funding Firm, announced today that they received a surge in B.P. Claim funding applications this week for their cash advance program due to the recent motion by B.P.'s Attorney, Ted Olson, petitioning the Appeals Panel to dismiss the entire settlement. Due to the high volume of applicants -- and uncertainty of how the panel will rule -- Legal-Bay is limiting funding amounts to a $100,000.00 "cap" for businesses; however the leading B.P. Funder remains committing to helping business owners while they wait for their settlement check from B.P.

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Chris Janish, CEO of Legal-Bay, commented on the latest B.P. Appeal news, "It is obvious that the recent Appeal win by B.P. last month, has now opened the door to even more challenges by B.P., which now includes a long shot attempt to throw out the entire settlement. Since this was announced we have seen a surge in applicants looking for a B.P. settlement funding cash advances, as many business owners are concerned that their payment will be tied up for much longer than expected. Unlike many of our competitors who have stopped funding B.P. Claims altogether at this point, Legal-Bay remains committed to assisting plaintiffs, Law Firms, and CPA Firms with their B.P. case load. However, we have substantially lowered our cash advance amounts to $100,000 per business claim, and could potentially suspend the entire B.P. Funding Program in the event that the litigation continues to be delayed." To learn more about Legal-Bay's B.P. Funding program business owners can access more information at: http://lawsuitssettlementfunding.com/bp-gulf-lawsuit-settlement-funding.php

Legal experts have advised Legal-Bay that all claims in the B.P. Claim Center will remain unpaid until after the Panel rules, which may not be until December. This means most business owners will not receive funds now until well into 2014. With the business Holiday Season where businesses need cash flow for Holiday Parties and Year End Bonuses, Legal-Bay expects B.P. Funding applications to rise substantially in the next 2 months.

Regardless of the Appeal Decision, B.P. has accomplished one major win, and that is to delay payments to the many deserving plaintiffs and to dissuade plaintiffs from filing claims before the deadline in April 2014. New Orleans B.P. Attorney Kevin Schoenberger commented on the delays, "It is disappointing that legitimate claims in the Claim Center are now being delayed and hurting deserving plaintiffs. Although many law firms are now moving away from B.P. and not accepting new claims, our office continues to sign up new B.P. Economic Claims and will stay the course for the so many Louisiana, Alabama, Texas, Florida and Mississippi businesses that were affected by B.P.'s negligence." If you have not filed a B.P. Claim yet, the Law Offices of Kevin Schoenberger are providing free case evaluations by phone at: 504.525.1143.

Legal-Bay strongly urges clients that may need a lawsuit cash advance (non-recourse) or B.P. lawsuit loan (on a recourse basis) to apply immediately as the B.P. Funding Program could be suspended in the near future based on the current legal motions pending with the court. For Lawyer, CPA's, and Plaintiffs in need of a B.P. Claim Funding Cash Advance feel free to apply online at: http://lawsuitssettlementfunding.com or by calling Legal-Bay's toll free hotline at: 877.571.0405 where live agents are always available to answer your questions.