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Article

4 Jan 2012

Author:
Rebecca Mowbray, David Hammer, Times-Picayune [USA]

BP oil spill payments resume after fee wrinkle [USA]

The Gulf Coast Claims Facility resumed paying oil spill damage claims...after U.S. District Judge Carl Barbier amended an order requiring it to set aside 6 percent of the money to fund the work of plaintiff attorneys on the oil spill litigation. Barbier's 6 percent hold-back order still stands, but it no longer applies retroactively, avoiding the specter of the GCCF having to cancel settlement offers or tell victims of the Gulf of Mexico oil spill that they need to give a portion of their money back...The judge's original order applied to settlements made on or after Nov. 7, raising the question of whether the judge expected Feinberg to make people repay a portion of the $260 million that had been paid since early November...While Barbier and Feinberg's actions remove the roadblocks in paying claims from the April 2010 explosion...the broader issues over creating a reserve fund remain.[refers to BP]