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BP Business Economic Loss Claim Appeal 2016-2030: Law Firm Revenue/Expenses Allocated In Straight Line Not In Month Received

The following is an Appeal Panel Decision issued pursuant to Section 6 of the BP Deepwater Horizon Economic & Property Damages Settlement Agreement and the Rules Governing the BP Appeals Process. Links may have been added to assist the reader. The original decision may be found here, as well as a glossary of BP Settlement terms.

Claimant is a personal injury law firm aggrieved by the application of Policy 495 and the Professional Services Methodology to its claim. Claimant requests his revenue/expenses be allocated not in a straight line but rather the Vendor Accountants should allocate 80-90% of his revenue to the month the fee is received.
He filed a SWS to that effect, but as BP points out, such a demand is not based on financials kept in the ordinary course of business such as case/engagement records, calendars, court filings, engagement letters, case summaries etc which are required by Policy 495. The presiding court has continuously affirmed the utilization of Policy 495 and the Professional Services Methodology in similar cases. The appeal is denied.

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