BP oil spill payments to resume after fee wrinkle
Thursday, January 5, 2012
NEW ORLEANS (AP) — Payments from a compensation fund for BP’s massive oil spill in the Gulf of Mexico are resuming.
On Wednesday afternoon, the Gulf Coast Claims Facility said it now understood how to assess a 6 percent fee for attorneys handling claims against BP PLC.
The facility is handling a $20 billion compensation fund for the spill. It said Tuesday that it had frozen payments until a federal judge clarified his ruling on the fees.
On Dec. 28, the judge ordered that payments made on and after Nov. 7, 2011, include a 6 percent fee for lawyers affiliated with a steering committee approved by the federal court to spearhead oil spill litigation for plaintiffs.
The facility says about $260 million has been paid to claimants since Nov. 7.