October 5, 2010 / 7:00 PM / 7 years ago

FACTBOX-Oil spill claims $964 million in 6 weeks

 Oct 5 (Reuters) - The Gulf Coast Claims Facility, created to compensate people and businesses for damages related to BP Plc’s (BP.L) (BP.N) Gulf of Mexico oil spill, has paid $964 million in claims since the organization took over the process from the oil company on Aug. 23.
 BP paid $400 million in claims before GCCF head Kenneth Feinberg began administering the $20 billion fund set up at the insistence of U.S. President Barack Obama.
 The April 20 well rupture killed 11 people and caused the world’s worst marine crude oil spill. BP said it permanently sealed the well on Sunday. Below is a breakdown of payments made through Oct. 4:
 Number of claims filed:
 Individual               74,446
 Businesses               29,770
 Total                   104,216
 Number of claims paid or approved for payment: 49,500
 Individual               $348.52 million
 Business                 $615.22 million
 Total                    $963.73 million
 Type of claims paid:
 Emergency advance
 payment                  $963.73 million
 Final Claims *:          $0
 Number of claims denied:        118
 Number of claims requiring
 more information             39,147
 Payments made to real estate
 brokers and agents as part
 of a separate fund:     $34.5 million
 * No final claims have been paid because the GCCF has reviews under way to determine whether claimants intended to file a final claim. After a final claim is paid, claimants give up their right to sue BP for more damages under the GCCF process.
 Source: GCCF documents  (Reporting by Anna Driver in Houston; editing by Cynthia Osterman)   

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below