What types of businesses are eligible to recover under the BP oil spill settlement?

The scope of the BP settlement is staggeringly broad.  Not only is the geographical area covered by the terms of the settlement enormous, but almost any type of business could be eligible to recover.  Under the settlement, a qualifying “business” includes claims for corporations, partnerships, and business income reported on 1040 Schedules C, E or F and 1099’s.  The very few excluded areas are, generally, Financial Institutions, Funds, Financial Trusts and Other Financial Vehicles, Gaming, Insurance Entities, Oil and Gas Industry, Defense Contractors/Subcontractors, Real Estate Developers, any entity selling or marketing BP-branded fuel, and Governmental Organizations.

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BP settlement click here.