As the BP Settlement Program continues to operate, the Court-Appointed Claims Administrator has now made public three status reports, with the latest coming at the beginning of this month. The third status report provides important insight into the pace and level of claims resolution:
In September, the Claims Administrator set as a goal issuing outcome notices by October 1 on 30% of the nearly 45,000 claims received to date. The Administrator now reports that that goal has been met and notices have been issued on 15,746 claims. In fact, the Program is averaging 441 notices issued per day.
The first round of payments on claims was issued at the end of July. As of October 4, the program had issued 7,144 Eligibility Notices with Payment Offers totaling over $422 million. Of those offers made, just over 5,000 had been accepted at an amount totaling $310,213,808. Payments actually made total nearly $70 million on 1,784 claims.
While claims that do not involve economic loss typically involve fewer documents and calculations and thus have been processed more quickly, these latest numbers show that payment offers have been made in a growing number of economic loss claims.
As a plaintiff attorney, Tom Young has been at the forefront of some of the Nation's worst disasters. In 2015, he was judicially appointed to represent over 200,000 plaintiffs in an allocation proceeding involving a $1.24 billion settlement with Deepwater Horizon contractor Halliburton and rig owner Transocean. Currently, he's focused on representing numerous communities across the country that have been ravaged by the opioid epidemic and are now seeking damages from drug manufacturers and distributors.