With just days to go before the Settlement in Principle between BP and the Plaintiffs’ Steering Committee heads to the Court for approval, things are moving quickly for businesses and individuals seeking recovery.
Since the Settlement in Principle was reached in March, nearly $134 million has been paid out through an interim claims process. That interim claims process was set-up to replace the Gulf Coast Claims Facility, which had paid out $6 billion in economic damage since the spill that began just under two years ago on April 20, 2010.
The interim claims process has been in operation since March 8 and in that time has paid 5,238 claimants and received 9,903 claims, including nearly 3,000 from individuals who had not previously filed with the Gulf Coast Claims facility. Under the terms of the Settlement in Principle, this interim claims process has been carried out under the supervision of a court-appointed Claims Administrator and Transition Coordinator.
The claims process can seem daunting to individuals and businesses that suffered economic, property or medical damages in the wake of the 2010 spill. Businesses by the Beach, a coalition of attorneys working on the BP Settlement in Principle, provides important information and support to plaintiffs navigating this complex system.