The BP oil spill is considered the worst oil spill in U.S. history.
Four years ago, more than 200 million gallons of crude oil pumped into the Gulf of Mexico for a total of 87 days. In the wake of the spill, the British oil giant has been making payments to those affected by the incident.
But last month, BP stopped some of the payments they were making through an internal program.
Here with more is Jennifer Larino, business reporter at the Times-Picayune.
Geoff Morrell, BP America's Senior Vice President of U.S. Communications and External Affairs, said in a statement sent to Take Two:
“After four years, BP has concluded its formal claims programs. You'll recall that these programs were established immediately after the accident to process claims by individuals, businesses and governments. The individual and business claims program was later closed when the GCCF took over processing those claims. When the CSSP began operating in June 2012, the BP Claims Program for individual and business claims re-opened in order to process claims from claimants that are not members of the class established by the PSC settlement; that opted out of the settlement; or that wished to pursue certain types of claims reserved to them by the settlement.
Since the CSSP began operating in June 2012, the majority of individual and business claims that have been filed have been submitted to the CSSP. Indeed, very few claims were being submitted through the BP Claims Programs when this decision was made. And the fact is that 99% of the claims received by the BP Claims Program have been resolved as of June 22, 2014.
Importantly, the conclusion of the formal claims programs does not terminate any claimant's rights. It does not in any way affect the Court Supervised Settlement Program, which is managed independently under the supervision of the District Court and is accepting claims from class members. And anybody wishing to communicate with BP can do so directly, through the contacts noted on the website.
BP remains committed to paying all legitimate claims and to date has paid nearly $13 billion in claims and other payments to individuals, businesses and government entities.”