Will BP Get A $10 Billion Refund From The Disaster Fund?


[credit provider=”AP”]

The fund set aside for claims related to the Deepwater Horizon incident has paid out $5.551 billion to settle 359,441 claims paid to 204,434 claimants.The figures were issued as part of a report that covers the first year of operation of the Gulf Coast Claims Facility.

BP (NYSE: BP) put $20 billion into the fund to handle the costs of the Deepwater Horizon disaster.

The money was to be placed into the fund, starting in June 2010, over a period of three-and-a-half years. One of the provisions of the deal was that, “Any money left in the fund once all legitimate claims have been resolved and paid will revert to BP.”

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