Oil spill claims $1.55 billion in 9 weeks

Thursday, October 28th, 2010 Liability

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.

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http://www.reuters.com/article/idUSN2616742620101026

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