BP claims facility pays out $5 billion in one year

BP claims facility pays out $5 billion in one year

POSTED: Tuesday, August 23, 2011 - 6:20pm

UPDATED: Friday, November 30, 2012 - 10:28am

The man responsible for paying out claims to victims of the Crisis on the Coast says over $5 billion has been paid in the fund's first year.

Ken Feinberg runs the Gulf Coast Claims Facility, and says in the year the program's been running, over 200,000 have received money.

The fund has 20 billion dollars.

The facility has seen over a million claims filed from all 50 states. Almost all of them have been processed.

The Gulf Coast Claims Facility first started operating one year ago tomorrow.

Comments News Comments

The fund never had the full 20 Billion. BP made quarterly payments and never put in the full amount they brag about. There is also more oil in the gulf from the cap today.. Nov 30, 2013. And 85,000 claims not paid.

All of this is happening as the Gulf Coast Claims Facility is closing 8 more GCCF offices, making it even more difficult for people to file for their BP Claims.

Post new Comment