By Andrew Restuccia - 12/27/10 09:29 PM EST
The organization set up to compensate Gulf oil-spill victims has so far doled out $51 million as part of an effort to issue final payments to claimants.
The Gulf Coast Claims Facility (GCCF), administered by Kenneth Feinberg, has paid almost 6,000 so-called “quick-pay” payments to oil-spill victims, totaling more than $41 million, as well as one $10 million final business payment.
Victims who have already received emergency payments through the facility have the option to accept one-time lump-sum “quick-pay” payments of $5,000 for individuals and $25,000 for businesses. They can also choose to receive interim payments or file for a lump-sum final payment based on their losses.
During the emergency payment period, which ended in November, the facility paid out more than $2.5 billion to claimants. The final payment period, which lasts until 2013, has just begun.
The GCCF has so far received more than 90,000 final claims from businesses and individuals affected by the spill. With one exception, according to the latest available data from the GCCF, the facility has only processed quick-pay claims. The GCCF has paid one final business claim so far, totaling $10 million. The GCCF only publishes statistics — not the specific details — of individual claims.
Feinberg told The Hill earlier this month that he will hold final payment requests to a higher standard when determining whether payments should be made. He has given himself 90 days to process final payments and two weeks to process quick-pay claims.