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BP Fund Resumes Payments To Spill Victims

By Amanda Peterson Beadle on January 5, 2012 at 10:00 am

"BP Fund Resumes Payments To Spill Victims"

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After halting payments at the end of December, BP’s $20 billion fund resumed payments to eligible victims from the April 2010 oil spill at the Deepwater Horizon offshore oil well. Earlier, a federal court in Louisiana asked the fund, called the Gulf Coast Claims Facility, to pay 6 percent of the gross amount into an escrow account to cover certain legal expenses incurred by the plaintiffs’ lawyers. The fund has paid $6.14 billion to individuals and businesses harmed by the disaster as of December 1. The cleanup from the massive spill was still ongoing this summer when BP declared that “recovery had occurred,” and in December, Shell spilled 13,000 gallons of oil and drilling fluid near the site of the Deepwater Horizon well.

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