HOUSTON, Oct 26 (Reuters) - The Gulf Coast Claims Facility,
created to compensate people and businesses for damages related
to BP Plc's Gulf of Mexico oil spill, has paid
$1.55 billion 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 Sept 19. Below is a breakdown of payments made through Oct. 25:
Number of claims filed:
Individual 224,998
Business 46,775
Total 271,773
Number of claims paid or approved for payment: 85,286
Individual $632.40 million
Business $919.43 million
Total $1.55 billion
Type of claims paid:
Emergency advance
payment $1.55 billion
Final Claims *: $0
Number of claims denied: 8,076
Number of claims under review
for final payment 6,371
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 Andre Grenon) Keywords: OIL SPILL/CLAIMS (anna.driver@thomsonreuters.com +1 713 210 8509; Reuters Messaging: anna.driver.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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 Sept 19. Below is a breakdown of payments made through Oct. 25:
Number of claims filed:
Individual 224,998
Business 46,775
Total 271,773
Number of claims paid or approved for payment: 85,286
Individual $632.40 million
Business $919.43 million
Total $1.55 billion
Type of claims paid:
Emergency advance
payment $1.55 billion
Final Claims *: $0
Number of claims denied: 8,076
Number of claims under review
for final payment 6,371
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 Andre Grenon) Keywords: OIL SPILL/CLAIMS (anna.driver@thomsonreuters.com +1 713 210 8509; Reuters Messaging: anna.driver.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.