BP Claims Fund Pays out $5 Billion to Spill Victims

Bloomberg reported today that BP Plc paid more than $5 billion to 204,434 claimants in the past year from the fund created to compensate victims from the 2010 Gulf of Mexico oil spill.  The claims facility draws on more than $20 billion set aside by BP after the oil spill.  In total BP has received more than 947,000 claims of which nearly 97% have been reviewed.

Victims have until August 2013 to apply to the claims facility.

Read the full article here.

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