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Claims grab $5 billion of BP spill damage fund

Published by Steve Coleman on August 23, 2011

So far, BP's Gulf of Mexico oil spill has cost the company $5 billion in damage payments.

Fund administrators have paid out about one-quarter of the amount set aside under the Gulf Coast Claims Facility banner, set up a year after the April 2010 spill.

A news story says 947,892 claims have been filed from all 50 U.S. states and residents from 36 countries. Most of the successful claims are reported to have come from Florida, Louisiana, Alabama and Mississippi.

Besides damage payments, the fund has spent $1.7 billion on cleanup efforts, government claims and other expenses.

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