BP Oil Spill Fund Payouts Reach $5.5 Billion

Posted in Alabama Maritime News,BP British Petroleum,Deepwater Horizon,Environment,Florida Maritime News,Government,Gulf Coast,Louisiana Maritime News,Maritime Law,Maritime Lawsuits,Mississippi Maritime News,Texas Maritime News on November 1, 2011

Kenneth Feinberg, the administrator of BP’s $20 billion restitution fund, told Congress on Thursday, Oct 27, that he has has paid out approximately $5.5 billion to more than 213,000 victims of the Gulf of Mexico oil spill that occurred over a year and a half ago.

“We have received just about 1 million claims from 50 states and 38 foreign countries,’’ Kenneth R. Feinberg told the House Natural Resources Committee on Thursday.

LA Times reports:

He’s received claims not only from shrimpers, oyster harvesters, hotels and restaurants but also from dentists and chiropractors. Feinberg didn’t go into many specifics, but the Daily Texan reported earlier this month that claimants included a Swedish rope maker who reported lost sales from rope used for fishing nets.

Feinberg said compensation was paid to a couple of Maryland oyster restaurant owners who depended on gulf shrimp for their livelihoods and lost business when the supply was cut off.

Some of the claims, however, are “very creative,” he told the committee.

Feinberg said that claims have been denied for a variety of reasons, including lack of proof of damage or losses due to the spill. Of 1,500 appeals to the Coast Guard, he said, his decisions have been upheld  “in every single case. So I think we’re doing something right.”

Feinberg said that he continues to receive, on average, about 2,000 new claims a week.

Maritime attorneys, Gordon, Elias & Seely, L.L.P. work with Jones Act clients all along the Gulf Coast and throughout the nation. We are the leading offshore injury law firm representing victims of the BP, Transocean Deepwater Horizon disaster, along with assisting businesses that were damaged by the impact of the Gulf oil spill. For a free consultation, call an expert maritime lawyer 24/7 at 800.773.6770.