New System to Replace BP’s Oil Spill Claims Facility
Panama City – The $7.8 billion deal declared last week by oil giant BP will possibly give thousands of Floridians with pending oil spill claims and claims rejected by BP’s Gulf Coast Claims Facility (GCCF) a chance to have those claims reviewed under the new agreement.
The GCCF, which was formed by BP after the April 2010 oil spill in the Gulf of Mexico for paying damages to victims of the spill, is going to be replaced by a new court-overseen facility for assessing the bp settlement. Pending claimants can now decide whether to accept their payment based on the existing criteria or the new system which will be implemented shortly.
The deal declared by BP still required U.S. District Judge Carl Barbier’s formal approval. Once approved, it will end suits filed by around 100,000 plaintiffs who claimed their livelihoods were impacted by the 2010 BP oil spill.
