Deep Water Horizon
Peril: Explosion, Fire, Oil Spill
Achieved business interruption payment in excess of one hundred million dollars.
Negotiated settlements directly with Mr. Ken Feinberg, special master of the Gulf Coast Claims Facility.
Managed claims process for over 1 year.
As a result of the Deep Water Horizon oil spill in the Gulf of Mexico, Steven C Schwed of Morgan Ryan, Inc. was retained by over 100 seafood related businesses to represent their interest in the preparation of business interruption claims submitted to British Petroleum, The Gulf Coast Claims Facility and the Court Supervised Settlement Program. By virtue of a unique understanding of complex business income issues as it relates to the commodity based nature of the seafood industry, Morgan Ryan Inc. was able to develop claims resulting in settlements to date in excess of one hundred million dollars.
I am writing to provide my sincere thanks and compliments for the massive effort and excellent work you have done on behalf of the Gulf Coast seafood industry in the wake of the BP Deepwater Horizon oil spill disaster. The explosion on the Deepwater Horizon resulted in the largest oil spill in history. The Gulf of Mexico was closed to fishing and commerce for several months, causing massive direct economic losses to the Gulf Coast seafood industry that relies upon the Gulf for it’s livelihood. Not only did the spill cause immediate and direct economic losses, it created indirect economic market losses due to a loss of confidence in domestic seafood.
Your skills and hard work as an economic loss consultant resulted in nearly $100 million in recovery for the domestic seafood industry. Without your expertise and experience handling large losses made this devastating event bearable for so many of our clients facing economic ruin to business built over multiple generations. I am proud to have worked with you on this event and strongly recommend your services to anyone facing economic losses large or small.
We’ve helped negotiate hundreds of claims over the years, here are a few successes we’d like to highlight.