Pioneer Litigation Funder, LawFinance Group, Announces The Availability Of
$50MM For Lawyers Facing Delays On BP Claims
SAN FRANCISCO, Nov. 21, 2013
SAN FRANCISCO, Nov. 21, 2013 /PRNewswire/ --As of October 15, 2013, only
9,513 of 59,247 Business Economic Loss claims filed have been paid.
LawFinance Group announced the availability of a $50MM Funding Facility to
support the efforts of attorneys filing client claimswho seeks restitution
from the BP Oil Spill settlement.
The 2010 Deepwater Horizon oil spill was the worst oil spill disaster of all
time.It devastated the Gulf Coast, both economically and environmentally. On
November 8, 2012, BP (BP PLC ADS (NYSE: BP)) argued before the U.S. District
Court in New Orleans that the Settlement Agreement reached was Fair,
Reasonable and Adequate. However, BP has used the Appeals process to delay
paying claims and has continued to vilify attorneys helping victims to file
claims in the Settlement. While there is reason to believe that despite BP's
legal maneuvering and delay that most claims will eventually be paid, the
question is -- when?
Fifth Circuit Judge Garza stated to Ted Olson, BP's lead counsel, on the
November 4th, "If it doesn't go your way, you'll be back up here again," Alan
Zimmerman, Founder and CEO of LawFinance Group said, "I think he was right.
From the outside looking in, it appears as though BP changed its attitude
towards paying claims after the Justice Department settled the criminal case
"It appears that BP's massive advertising campaign and threats to Claimants
that monies paid out may need to be returned is suppressing claims filings. It
is creating fear and doubt about the settlement process," says Sharon Maier,
director of LFG's portfolio of Settlement Funding.
The filing deadline originally thought to be April 2014 may or may not be
extended. "While we can't stop BP from running full page ads disparaging the
legal profession, our capital will go a long way to level the playing field,"
said Alan Zimmerman. Adding, "Lawyers should also view delays as an
opportunity to reach more claimants."
LFG will be celebrating its 20th year in 2014, successfully providing funding
to attorneys and claimants for decades. The Funding Facility is the latest
solution by LFG to aid attorneys traversing the imperfect justice system.
Interested lawyers should contact a LFG funding attorney who has extensive
knowledge about BP claims.
About LawFinance Group, LLC
LFG is a lawyer founded and managed licensed finance company. It has been
providing on-demand law-related capital to lawyers and their plaintiff's since
1994, successfully advancing more than $300M in thousands of cases. LFG
advances funds in class action cases, judgments on appeal, cases on remand and
complex settlements. http://www.lawfinance.com/
For more information on how LFG can help please contact Ken Baritz, LawFinance
Group, 800-572-1986 email@example.com.
SOURCE LawFinance Group
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