Legal-Bay Lawsuit Settlement Funding Expects B.P. Economic Claims Appeal Case to End at U.S. Supreme Court

B.P. Claim Funding Firm says delays in 5th Circuit have increased applications by law firms, CPA firms, and business owners who need cash advances from their pending cases

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Legal-Bay LLC

Feb 17, 2014, 04:00 ET

NEW ORLEANS, Feb. 17, 2014 /PRNewswire/ -- Legal-Bay LLC, The Lawsuit Settlement Funding Company, announced today that they believe the British Petroleum Inc. Business Economic Loss (BEL) Claims settlement will eventually make its way to the U.S. High Court under a Writ of Certiorari. The issues revolve around constant legal wrangling by B.P. to drastically alter the landmark settlement, by claiming that the settlement is not being interpreted correctly, and is therefore unconstitutional to allow claimants to collect money in which no financial injury has actually occurred.

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The legal appeals and opinions by the appellate judges have been complex and at times conflicting, says Legal-Bay, with at least 3 judges at some point favoring B.P. on "partial issues". However in New Orleans, U.S. District Court Judge Barbier has been the one constant who believes B.P.'s tactics are "disappointing" based on the spirit of the negotiations – which was to assist a large number of businesses and settle on a "global" level to avoid lengthy litigation. Through all of the uncertainties, Legal-Bay continues to fund all businesses waiting on B.P. Settlement Claim checks to be paid. This list includes: law firms, CPA firms, and all businesses in Alabama, Florida, Louisiana, Mississippi, and Texas with claims pending in the B.P. Claim Center – considered to be Opt-in cases. For more information on Legal-Bay's B.P. Funding, log onto: http://lawsuitssettlementfunding.com/bp-gulf-lawsuit-settlement-funding.php .

Chris Janish, CEO of Legal-Bay, commented about the current state of the B.P. Litigation, "The aggressive legal challenges by B.P. have scared off most B.P. Pre-Settlement Funding companies due to constant uncertainty of when payments will be received. We are of the belief that the settlement has enough possible constitutional issues, and that the settlement appeal will eventually end up on the steps of the U.S. Supreme Court. The process will continue to be slow, and payments will be delayed. However, we strongly believe in the end that the settlement will not be drastically altered and B.P. will be compelled to live with the deal they signed."

Legal-Bay has seen a dramatic rise in B.P. law firms and CPA firm applicants who have hundreds of millions ($100MM) of potential B.P. BEL settlements for clients and need operating cash to continue to run their firm until these fees are collected. "Simply put, the law firms are keenly aware that the B.P. watershed is still far on the horizon and they need a life line to get them to the ultimate finish line," added Mr. Janish. To learn more about Legal-Bay's attorney funding loans program, log on to: http://lawsuitssettlementfunding.com/attorney-lawsuit-loans-and-funding-products.php .

Legal-Bay is offering several programs for B.P. business claim owners including: traditional lawsuit loans, B.P. Settlement Funding, and B.P. business lines of credit for any and all businesses that have anticipated a certain B.P. Settlement check amount. Legal-Bay and its funding partners can commit to a quick lawsuit cash advance in 48 hours in amounts up to $100K, with no credit checks or monthly payments; this funding is not to be considered a lawsuit loan, and plaintiffs only need to repay if they win their B.P. Settlement. Larger business lines of credit or law firm case funding amounts are typically on a recourse basis in amounts up to $1MM and take approximately 5-7 days to approve.

To apply for a B.P. Claim settlement funding for you or your business, feel free to apply online directly at Legal-Bay.com or at: http://lawsuitssettlementfunding.com. To apply by phone, call Legal-Bay's toll free hotline at 877.571.0405 to speak with a live agent.