Schexnaydre Law Firm, LLC

Getting Closer to a Matching Protocol

By David Schexnaydre, Esq.

Processing of claims continues but the issuance of payments or Eligibility Notices is still stayed. Meanwhile, though, the Claims Administrator is getting closer to issuing his protocol on how to "match" revenue to expenses.  On February 12, 2014, the Claims Administrator provided to BP and the PSC a copy of his proposed protocol for matching revenue and expenses.  Of course, both parties will likely have something to complain about, but that is the nature of things.  BP, the PSC, and the Claims Administrator will convene and try to reach an agreement on the protocol.  Once issued, either side could file an objection and then appeal Judge Barbier's ruling on that objection to the Fifth Circuit.

My personal belief is that no payments wil be made under the Settlement Program during the next 4 to 6 months.  

There are three things that need to happen to get this Settlement Program back on track:

1) The Fifth Circuit needs to deny the Requests for Rehearing En Banc on the issue of class certification. (A three-member panel approved the Settlement Agreement as a valid class action settlement, but BP and three sets of other objectors filed requests for rehearing with the full (en banc) Fifth Circuit panel of judges.)
2) A separate Fifth Circuit panel (the Clement/Southwick/Dennis panel) needs to rule that claimants need not provide extra evidence that their losses were caused by the oil spill; and
3) The Claims Administrator needs to issue his protocol on how to ensure that revenues and expenses are "matched," whether the claimant's books are kept on a cash basis, accrual basis, or hybrid basis.  
Once those three things are done, we can start to move forward again.

No Comments

Leave a comment
Comment Information

Contact Schexnaydre Law Firm, LLC

Fill out the form below to schedule an initial consultation. Initial consultations can also be secured at this toll-free phone number: 888-339-0696.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Schexnaydre Law Firm, LLC
2895 Highway 190, Suite 212
Mandeville, LA 70471

Toll Free: 888-339-0696
Phone: 985-231-1791
Fax: 985-235-1089
Mandeville Law Office Map

map
Review Us
Back to Top