BP fund has paid out $5 billion to Gulf spill victims

BP fund has paid out $5 billion to Gulf spill victims

NEW YORK – BP Plc has paid out more than $5 billion to 204,434 victims of last year’s Gulf of Mexico oil spill, fund administrator Kenneth Feinberg said on Tuesday.

The payouts amount to roughly 25 per cent of the $20-billion fund, known as the Gulf Coast Claims Facility, which was set up a year ago following the April 2010 spill.

So far, 947,892 claims have been filed from all 50 U.S. states and residents of 36 countries. So far, nearly all of the successful claimants come from four states: Florida, Louisiana, Alabama and Mississippi.

Reuters
8/23/11