What is the Gulf Coast Claims Facility?
After the Deepwater Horizon incident on April 20, 2010 (the “Spill”), BP was designated by the U.S. Coast Guard as a “responsible party” under the Oil Pollution Act of 1990 (“OPA”). Pursuant to OPA, BP as a responsible party was required to establish a procedure for the payment or settlement of claims for costs and damages incurred as a result of the Spill. BP established such a procedure, but subsequently, on June 16, 2010, the White House issued a press release announcing that (1) BP would replace its claims facility with a new and different claims facility which is now called the Gulf Coast Claims Facility (“GCCF”), and (2) BP would establish a $20 billion escrow fund to fulfill its claims processing obligations under OPA. Kenneth R. Feinberg was selected to be the third-party administrator of the GCCF. The GCCF accepts and where possible resolves claims of Individuals and Businesses for costs and damages incurred as a result of the Spill. In fulfilling these obligations, the GCCF a
