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FIDUCIARY ALERT: YOUR DUTIES & THE BP CIVIL LITIGATION SETTLEMENT

Posted By Michael Swick, Kahn Swick & Foti, LLC, Tuesday, April 2, 2013
Updated: Friday, April 5, 2013

 

As an executive officer or board member of a nonprofit organization, you have a fiduciary duty to act in good faith, with diligence and in furtherance of your organization’s objectives.  

Following the settlement of the BP oil spill civil litigation in April 2012, this duty also includes determining if your organization is due money under the almost $8 billion compensation program set up to pay nonprofits and businesses in the Gulf South for lost revenue during 2010.   

Important deadlines for filing claims under the settlement program exist, so fiduciaries must act expediently to determine if your organization qualifies for a claim award.

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On Friday April 5, 2013, the law firm of Kahn Swick & Foti, LLC, will be hosting another in its series of free BP Nonprofit Claims Luncheon Seminars at Andrea's Restaurant (12:30-2pm) in Metairie, La.

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Tags:  BP Settlement 

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