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(Aug. 23) -- The Gulf Coast Claims Facility is open for business as of this morning. Independent administrator Ken Feinberg is manning the cash register, ready to hand out money from BP's $20 billion oil spill compensation fund to individuals and businesses that were hurt by the spill.
Those who want to file a claim can do so online, by mail or at one of 35 claims centers in Alabama, Florida, Louisiana, Mississippi and Texas. The Gulf Coast Claims Facility will be holding three town hall meetings in Mississippi this morning.
BP has already paid out $368 million in claims. That money is separate from the $20 billion pot of money that Feinberg will now dispense. And real estate brokers and agents may have their own $60 million pool to dip into also.
Claimants have a three-month window to accept emergency funds. After that, the fund will begin handing out final settlements, which will require claimants who accept them to waive their right to sue the oil company in the future.
More information is online at www.gulfcoastclaimsfacility.com.
Read more about the claims process here.
Gulf Coast Claims Facility Opens for Business
Aug 23, 2010 – 10:45 AM
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