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BP Claim question - non-profit
Posted on 8/27/13 at 2:08 pm
Posted on 8/27/13 at 2:08 pm
i'm affiliated with a non-profit in the Mobile, AL area and apparently the organization is eligible to file a BP claim. my understanding is that it is considered a "single business economic loss" claim.
can someone tell me if this is a part of the class action suit or something different? if different, what are the legal ramifications for filing a claim (loss of suing later, etc)?
the basis for the claim is "direct or indirect" loss of funds, and i would consider the non-profit in question to have been indirectly affected due to reductions in funding from both the state of al as well as the united way, each of whom were either directly or indirectly affected.
this situation is about as clear as mud to me, so if someone has any knowledge in this area, i'd appreciate it.
can someone tell me if this is a part of the class action suit or something different? if different, what are the legal ramifications for filing a claim (loss of suing later, etc)?
the basis for the claim is "direct or indirect" loss of funds, and i would consider the non-profit in question to have been indirectly affected due to reductions in funding from both the state of al as well as the united way, each of whom were either directly or indirectly affected.
this situation is about as clear as mud to me, so if someone has any knowledge in this area, i'd appreciate it.
2
Posted on 8/27/13 at 2:14 pm to jjbodean1970
Worth consulting a lawyer about it. Pretty sure Non-profits can still make claims, but I'm clearly no expert.
Posted on 8/27/13 at 4:00 pm to The Connoisseur
You can still make a claim. It is not a class action suit. Depending on what region/zone you are in, you have to show a decline in monthly income. It is a pretty simple formula.
The starting point is to determine what zone you are in, then compile monthly income ( no expenses) for the years 2007-2011. Then contact a lawyer.
The starting point is to determine what zone you are in, then compile monthly income ( no expenses) for the years 2007-2011. Then contact a lawyer.
Posted on 8/27/13 at 4:02 pm to jjbodean1970
I know several non profits that have made claims.
Consult lawyer/accountant.
Consult lawyer/accountant.
Posted on 8/27/13 at 4:06 pm to eng08
quote:You have at least until April 22,2014 to file a claim, but you need to be pulling the necessary data together now.
Consult lawyer/accountant.
This post was edited on 8/27/13 at 4:07 pm
Posted on 8/27/13 at 4:24 pm to OTIS2
thanks for the feedback. we are in zone D and we pass the V test or whatever the financial test is called. i'm more curious about how stringent they are examining the claims, because i can look at the paperwork and am fairly certain that we didnt actually have the impact that the amount of the claim could be made for. am i overthinking this by trying to be overly ethical? i just dont want to look like the non-profit is doing anything untowards or underhanded, but we could certainly put any funds to good use to serve our client base.
Posted on 8/27/13 at 6:25 pm to jjbodean1970
Contact postlewaite and Netterville in New Orleans, they are handling the claims the fastest.
Posted on 8/27/13 at 7:34 pm to OTIS2
extra post
This post was edited on 8/27/13 at 7:35 pm
Posted on 8/27/13 at 9:31 pm to theoldwiseone33
Posted on 8/27/13 at 9:33 pm to jjbodean1970
quote:if you pass the V test and wish to file a claim,file the damn claim.
jjbodean1970
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