Wednesday, November 24, 2010


The final protocol for claims related to the BP oil spill was released today by the Gulf Coast Claims Facility. Victims will choose one of the two options: 1) accept a final lump sum payment for all present and future damage in exchange for a full and final release surrendering their right to sue or 2) continue receiving quarterly interim payments based upon past damage for the that three months. If the last option is chosen, Feinburg specifically stated, “there is no guarantee that, in the future, a lump sum Final Payment will be as generous as it will be currently.” There will be an non-binding appeals process for those claimants who receive an offer of total compensation in excess of $250,000, but believe it inadequate. All claimants will be able to appeal their GCCF award to the Coast Guard and the Federal Courts. A decision regarding which option to choose should be made on a case by case basis. If you need any assistance regarding which option may be best suited for your personal and/or business claim, please contact Knox Boteler in our office.

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