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Why the BP Delays the Claims Process
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Posted On :
Jan-29-2012
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Article Word Count :
446
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Now since they have done a great job in delaying as much as possible these claims, and in denying the greatest majority of the claims, the team has got a raise from the BP.
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The gulf coast claims facility or the GCCF has been set up in order to control all managerial tasks related to the bp claims issue. Its major tasks include a fair review of all the claims that were coming in, and then to distribute fairly all the available funds. None of the tasks were performed correctly, and this can easily noted, if we have a look at some statistics:
-there are far more people struggling with denied bp claims than those with paid claims
-out of the available $20 billion fund, only as little as 5.5 billion have been paid out in almost two years
-the majority of the gccf claims get delayed for no good reason
Statistics of this type make everyone wonder why the Gccf and the BP delays the process so much. There are three main reasons:
-the BP pays off GCCF to do what the great company wants. In the beginning, the experts at GCCF were paid with $850,000/ month for their work related to the bp claims. Now since they have done a great job in delaying as much as possible these claims, and in denying the greatest majority of the claims, the team has got a raise from the BP. They are now paid with $1.2 million every month for keeping up with the job so well…
-BP is shrewd- the company has thought up a new tactic, that of offering “quick payments” to the victims of the disaster. What does this mean exactly? That the gccf will offer to pay out only a small fraction of what the claimant is entitled to in reality. Moreover, they will tell the claimant to sign the document which says that they will never ever take BP to court, and that by accepting the payment they will never have any other expectations from the company. To make the quick pay even more interesting, people could accept this payment only for a limited time. Out of fear of not being able to recuperate any of their losses, there were hundreds of individuals and business owners who accepted even as little as 5% of what they were entitled to in reality…accepting a miser payment!
-the quarterly earning reports of the BP might have to suffer greatly if they start making out huge payments to the claimants. This means that their stability on the stock market will be compromised, and the company might not be regarded too well by its shareholders who invest a lot in the company.
For a chance to fair solutioning of the gulf coast claims, people should definitely have on their side proper legal representation.
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Article Source :
http://www.articleseen.com/Article_Why the BP Delays the Claims Process_140530.aspx
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Author Resource :
The GCCF was formed to assist individuals and businesses file Gulf Coast claims for costs and damages as a result of the bp oil spill. To avoid holding up your Gulf Coast claim facility, it is important that you have all the proper documentation to show the GCCF.
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Keywords :
gulf coast claims, gulf coast claims facility, gccf claims, gccf,
Category :
Business
:
Business
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