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Friday, December 15, 2017

Scheming barristers bungle up BPoil spill fund

Credit: oil spill claims
oil spill claims

An oil spill fund of $20 billion was started by BP as directed by the Obama administration.

An oil spill fund of $20 billion was started by BPas directed by the Obama administration. A small portion of the cash has been paid to people claiming damages from the spill 365 days after the disaster started. Individuals waiting for a BPhandout complain that getting cash for nothing is not easy enough, while lawyers try to parasite their way into a piece of those billions. Article resource - Horde of fraudulent lawyers tie up payment of BP oil spill claims by MoneyBlogNewz.

Getting through BPoil spill claims

A year after the 2010 oil leak in the Gulf of Mexico, the Gulf Coast Claims Facility has paid $3.8 billion in BP oil spill claims -- just 19 percent of the $20 billion in seed money set aside by the oil business. The latest report from Kenneth Feinberg, who was appointed by the Obama administration to disburse the BPoil leak fund, said that 201,261 claims have been paid. More than 857,000 claims have been made. The Gulf Coast Claims Facility, which has 35 offices in five states with 3,200 employees, will continue to pay BPoil spill claims until August 2013. Feinberg has been criticized by Gulf residents and local government officials for a claims process that has been called confusing, unfair and slow.

The proof being requested

One applicant tried to request $20 billion causing Feinberg to say "Amounts requested by claimants very often bear no reasonable relationship to the damages actually proven." This was released on Tuesday in defense of his management of the BPoil leak fund. Offer of payment or payment itself has been made on most BPoil spill claims. About 72 percent were able to receive this. Some claims have been denied. Others are pending until more documentation is produced. Fishermen not used to paperwork in deals and typically working in cash are having trouble figuring out the BPoil claims process. The Coast Guard has not overturned any of the 574 cases disputing payments.

A lot of people just want easy cash

Residents in the Gulf Coast have not even realized when some attorneys sign them up for claims or get misled into thinking they can get money, especially the populations with cultural and language barriers. All of the illegal activity is bothering Feinberg who said it was "an obstacle to the efficiency and speed in getting the checks out." Vietnamese fisherman has been targeted more than any groups, states the New York Times. The larger the client list, the larger they payout for the attorneys when BPsettles the claim. The New York Times states of a San Antonio law firm that filed claims for thousands of Vietnamese, all listed as deckhands with identical earnings. There was not an acceptance with the claims. Individuals were surprised when they realized they were on the list for a claim.

Citations

CNN Money

money.cnn.com/2011/04/18/news/companies/bp_spill_claims/?npt=NP1

24/7 Wall Street

247wallst.com/2011/04/19/the-bp-20-billion-gulf-claims-facility-has-paid-nearly-nothing/

Los Angeles Times

latimes.com/news/nationworld/nation/la-na-gulf-spill-claims-20110419,0,2595018.story

New York Times

nytimes.com/2011/04/19/us/19spill.html?_r=1



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