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The BP Dictates the Claims Payment Rules to the GCCF
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Posted On :
Jan-24-2012
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Article Word Count :
422
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Yet another reason for which the gccf claims are not paid out as they should is because the BP has a set a cap in order to protect itself.
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The gulf coast claims facility center was set up as an independent organization. Its role was to review fairly the bp claims of the individuals and business owners, and send out compensation accordingly. However, it seems that the GCCF is an organization that is actually controlled by the BP in many ways.
The organization does everything it stays in its power to delay the claims processes, and where possible to completely deny the claims. They pay out a certain amount of money from the available $20 billion fund every quarter, but they certainly are not offering fair compensation to the majority of individuals and business owners asking for their rights. For a broader insight into what is happening behind the scenes of the gulf coast claims facility and the BP, you should always run a thorough research online. This way you will be able to choose the best team of attorneys that will help you obtain the compensation that you deserve from the BP.
Now one of the questions popping into everyone’s mind is why does the GCCF delay so much the process? What are the hidden reasons for which the organization fails to take up its responsibility and review cases properly and offer the right compensation to people who have lost income and revenue as a direct result of the disaster?
Firstly, the BP pays directly the gccf which is managed through the firm called Feinberg and Rozen. This firm obtained in the beginning $850,000 every month in order to “take care” of the BP claims related tasks. Today, the firm obtains $1.2 million per month from the BP, mainly because they do a “wonderful” job in delaying, denying and offering as little compensation as possible to the victims of the disaster.
Yet another reason for which the gccf claims are not paid out as they should is because the BP has a set a cap in order to protect itself. If they would pay out every quarter a high amount of money, this would directly affect their earning reports. This in turn means that their position on the stock market price would not look too well, and shareholders might also not regard well the position of the BP on the market. Every quarter, the GCCF does not go beyond the $1.25 million payout in claims- they don’t care even if claims worth of $8 to $10 billion stack up on their desks every few months.
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Article Source :
http://www.articleseen.com/Article_The BP Dictates the Claims Payment Rules to the GCCF_138657.aspx
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Author Resource :
The gccf claims are not paid out because the BP has a set a cap in order to protect itself. And to be able to know what's happening with gulf coast claims facility and bp. Gulf coast claims was the center of the organization.
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Keywords :
gulf coast claims, gulf coast claims facility, gccf claims, gccf,
Category :
Business
:
Business
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