BP Oil Fund Pays Out $5 Billion to Victims in First Year
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BP Plc paid more than $5 billion to 204,434 claimants in the past year from a fund created to compensate victims of its 2010 Gulf of Mexico oil spill, the worst in U.S. waters.
The Gulf Coast Claims Facility, which draws on $20 billion set aside by the London-based oil company after the spill, has received more than 947,000 claims from 50 states and 36 nations, according to a summary released today by claims administrator Kenneth Feinberg.