Skip to main content

$43 million distributed in Gulf spill ‘quick pay’ settlements

The administrator of BP's $20 billion compensation fund has paid $43 million to residents of the U.S. Gulf Coast who agree not to sue the company for damages stemming from the nation's worst offshore oil spill.

Fund administrator Kenneth Feinberg announced a "quick pay" option on Dec. 13 for those who are satisfied with the emergency compensation they have received from the Gulf Coast Claims Facility, Reuters reported.

In that process, people receive a final lump-sum payment of $5,000 and businesses receive $25,000 and forfeit the right to pursue additional claims against BP.

The "quick pay" option has come under scrutiny from some. In a Dec. 16 statement, the attorneys general of Mississippi and other Gulf Coast states urged people to carefully evaluate any final claim offers from the GCCF, citing the uncertain nature of future damages.

Click here for the full article.

Related

9_BREAKFAST

ABC 2022: A Full Schedule

The second day of the American Boating Congress included awards presentations, Capitol Hill sessions with lawmakers, an economic report, a state-of-the-industry address and statements from NMMA lobbyists.

1_GASPRICES

Gas Prices Soar to Record Highs

Oil supply concerns have lifted the average U.S. price of regular unleaded gasoline to $4.432 per gallon, according to AAA.

1_SEARAYWOMEN

All-Women Team Designs New Sea Ray

Parent company Brunswick Corp. said the achievement highlights its successes in promoting diversity in the marine workforce.

norm

Get Out Ahead of E15 Misfueling

With 15 percent ethanol-blended gasoline approved for summer use, “it’s déjà vu all over again.” Meanwhile, MRAA is offering a wealth of resources for dealers to get into the preowned market.

1_ABC

ABC Gets Underway in Washington, D.C.

The American Boating Congress opened yesterday, and NMMA outlined four pieces of legislation that are its top advocacy initiatives.

1_BENETEAUEARNS

Beneteau Reports Higher Boat Revenue, Flat Outlook

The builder said boat sales rose in the first quarter, with North American sales outperforming, but it did not change its full-year guidance.