NU Online News Service Aug. 17, 4:05 p.m. EDT
BP's claims team is in the final stages of preparing to transfer responsibility for individual and business claims related to the oil spill in the Gulf of Mexico to the Gulf Coast Claims Facility (GCCF).
Effective Aug. 23, GCCF will be the only authorized organization managing business and individual claims related to the Deepwater Horizon Incident, the company said in a statement.
At the urging of President Obama, in June British Petroleum agreed to put $20 billion into a fund to pay Gulf oil disaster claims. The fund is to be administered by Ken Feinberg, who was the special master of the federal compensation fund for 9/11.
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