BP settlement fund is a topic, that is, being discussed at all possible places because the oil spillage has caused lots of damage to people around the sea. Oil spillage is a very serious issue and this has been time and again bought forward by the Government of various countries so that they can protect their people from the hazards that can be done. BP oil spillage was very serious issue because of the quantity of oil that was spilled in the sea and at the same time, the engineers were helpless for almost 85 days thus, injuring more living creatures. BP settlement fund will be used by the government to safeguard people from further getting hurt and helping people who have been hurt in the past.
How to get BP settlement fund?
BP settlement fund is the best thing that an individual or family, who is affected from the oil spillage, can get. If a person wants to get access to BP settlement fund then the affected people were asked to file for claims in the court so that they can ask BP for the claims that have been demanded by affected people. Apart from demanding for the losses that the person has faced, court also allowed the people to file a suit against BP. To avoid all such situations, after certain point of time, BP announced that the affected people can directly claim for BP settlement fund directly from BP so that the affected people can also get what they want and at the same time, BP can also be free from legal suits and other legalities. Currently, 496114 BP settlement fund claims have been filed and out of which, BP settlement fund has been already distributed to 170709 and it has cost them $3.5 billion and BP has promised that it will pay the BP settlement fund to the remaining as well at the earliest. Apart from BP settlement fund, BP has also given $20 billion to the Government as well so that this $20 billion can be used to settle the claims that people have made legally against BP.
Advantages of BP Settlement fund
There are various advantages of BP settlement fund and the advantages of BP settlement fund is for both the parties that have been involved, that is, the affected people and the BP itself. The advantages of BP settlement fund for both the parties are stated below: -
- For affected – If an affected person files a legal suit against BP then they will have to follow all the legal proceedings and formalities but that is not the case with BP settlement fund, this can be claimed easily by visiting any nearby BP office.
- For BP – If a legal suit is filed against BP then BP will have to go through all the legal proceedings and if the same money is given to the affected people by way of BP settlement fund then they can save their reputation by way of earning goodwill.
BP settlement fund or even deepwater horizon settlement throws light on the positive image that they have been holding.