Bloomberg – The Gulf Coast Claims Facility (GCCF) administrator Kenneth Feinberg says the fund has paid $5.5 billion to more than 213,000 oil spill victims in every U.S. state and 38 nations.
He says the fund receives about 2,270 claim submissions every week.
“The fund is achieving its objective. The number of new applicants is a proof that we are doing something right,” Feinberg says in a testimony to the House Natural Resources Committee.
Panel chairman Doc Hastings says there has been a ‘large hole’ in supervision and accountability of the GCCF, which began writing checks in 2010. Residents along the Gulf and state officials are not satisfied either with the efficiency of the fund.
The $20 billion claims fund was formed by BP in 2010 after the Deepwater Horizon rig explosion and subsequent oil spill claims that continued for 87 days. Feinberg was appointed as manager after negotiations with the Obama administration over damages to residences and businesses. Numerous oil spill claims were filed by fishermen, shrimpers, hotel owners, real estate agents, dentists, veterinarians and chiropractors and businesses based thousands of miles from the spill. Feinberg says the fund has processed 95 percent of the applications.