BP Spill Fund Raises Limits for Shrimp and Crab Losses
source: http://www.nytimes.com/2011/12/01/us/bp-spill-fund-raises-limits-for-shrimp-and-crab-losses....
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The New York Times...
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November 30, 2011
BP Spill Fund Raises Limits for Shrimp and Crab Losses
By CAMPBELL ROBERTSON
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NEW ORLEANS — Under a new formula announced on Wednesday by Kenneth R. Feinberg, the administrator of the $20 billion fund set up by BP for victims of the 2010 oil spill, shrimp and crab fishermen along the Gulf Coast may be eligible for settlement payments significantly larger than what they were previously offered.
In making the changes, the Gulf Coast Claims Facility, which Mr. Feinberg administers, said it “recognizes the ongoing uncertainty regarding the state of the commercial harvesting of shrimp and crab in the gulf.”
Under the new rules, shrimp and crab fishermen are eligible for a final settlement equal to four times their demonstrable losses from 2010. Previously, they were eligible for twice their losses, as are claimants from other industries. Only oyster farmers, whose crop takes years to replenish, had been eligible for four times their losses.
The change came during a white shrimp season that many along the coast, particularly in Louisiana, have described as the worst in memory. The cause of the drop-off remains unclear, but at least some evidence suggests the spill could be a factor.
The claims facility also announced on Wednesday that the fund would no longer presume that losses claimed by individuals and businesses in Texas or in Florida south of the panhandle were due to the spill. It based that conclusion on a comparison of revenue from beachfront hotels and county sales taxes in those places with data from other areas of the Gulf Coast.
To date, the fund has paid out $5.74 million to around 217,000 claimants.
A BP spokesman said: “While BP respects the independence of the G.C.C.F. in setting policy, the company believes the proposed increase is not warranted given the facts. BP believes that the G.C.C.F. has already compensated commercial shrimpers and crabbers far in excess of documented, spill-related losses.”
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.
November 30, 2011
BP Spill Fund Raises Limits for Shrimp and Crab Losses
By CAMPBELL ROBERTSON
.
NEW ORLEANS — Under a new formula announced on Wednesday by Kenneth R. Feinberg, the administrator of the $20 billion fund set up by BP for victims of the 2010 oil spill, shrimp and crab fishermen along the Gulf Coast may be eligible for settlement payments significantly larger than what they were previously offered.
In making the changes, the Gulf Coast Claims Facility, which Mr. Feinberg administers, said it “recognizes the ongoing uncertainty regarding the state of the commercial harvesting of shrimp and crab in the gulf.”
Under the new rules, shrimp and crab fishermen are eligible for a final settlement equal to four times their demonstrable losses from 2010. Previously, they were eligible for twice their losses, as are claimants from other industries. Only oyster farmers, whose crop takes years to replenish, had been eligible for four times their losses.
The change came during a white shrimp season that many along the coast, particularly in Louisiana, have described as the worst in memory. The cause of the drop-off remains unclear, but at least some evidence suggests the spill could be a factor.
The claims facility also announced on Wednesday that the fund would no longer presume that losses claimed by individuals and businesses in Texas or in Florida south of the panhandle were due to the spill. It based that conclusion on a comparison of revenue from beachfront hotels and county sales taxes in those places with data from other areas of the Gulf Coast.
To date, the fund has paid out $5.74 million to around 217,000 claimants.
A BP spokesman said: “While BP respects the independence of the G.C.C.F. in setting policy, the company believes the proposed increase is not warranted given the facts. BP believes that the G.C.C.F. has already compensated commercial shrimpers and crabbers far in excess of documented, spill-related losses.”
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- BP Catastrophe
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- tags:
- Gulf of Mexico, BP Catastrophe, Gulf Coast
