Gulf Coast Claims Facility Announces Next Phase of the Compensation Program for Victims of the BP Oil Spill

Kenneth R. Feinberg, Administrator of the Gulf Coast Claims Facility (www.gulfcoastclaimsfacility.com) today announced that the Facility would begin providing additional compensation to the victims of the BP oil spill. All eligible claimants will have the opportunity to choose one of three compensation alternatives:

1. A lump-sum final payment for all documented past, present and future damage. Each eligible claimant choosing this option will be required to sign a full release giving up the right to sue BP and all other alleged defendant companies arising out of the explosion and spill.
2. Quarterly interim payments for documented past damage. Some eligible claimants, uncertain as to the future of the Gulf, may be reluctant to accept a final payment. Interim payments will be available to such eligible claimants once every quarter until the expiration of the Facility in August 2013. Quarterly interim payments will be made for documented past damage not previously covered by emergency payments. No release will be required under this option.
3. A one-time “quick pay” amount of $5,000 for an eligible individual or $25,000 for an eligible business. This “quick pay” alternative is only available to those eligible claimants who have already received an emergency payment from the Facility (over 166,000 individuals and businesses have received such payments). No further documentation need be submitted by any eligible claimant choosing this option. But a full release will be required. Claimants submitting claims for the first time or claimants who were denied emergency payments will not be eligible for this option but may file either a lump sum fully documented final claim or a fully documented interim claim.

“The goal in providing these three compensation alternatives is to give each and every eligible claimant an opportunity to choose which option is best. The choice is purely voluntary. In less than four months, the Facility has processed over 463,000 claims and paid about $2.5 billion to over 166,000 individuals and businesses,” said Feinberg.
Feinberg also announced that a program for free legal assistance will soon be made available to any claimant seeking such help. He also announced that he is retaining the services of respected local citizens throughout the Gulf region to assist claimants during this next phase of the compensation program. “I have listened to those claimants and others who have urged me to retain the services of respected local individuals who can be available to answer questions at the various Claims Offices throughout the Gulf. Their physical presence should make the claims process more transparent and consistent.”
The necessary claim forms for the three payment options will be available at the end of this week on Friday at the various 35 Claims Offices and online (at www.gulfcoastclaimsfacility.com).


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