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BP to stop handling most Gulf claims

By the CNN Wire Staff
BP will stop accepting new Gulf-related claims from businesses and individuals after Wednesday.
BP will stop accepting new Gulf-related claims from businesses and individuals after Wednesday.
STORY HIGHLIGHTS
  • BP says it won't accept any new claims after Wednesday
  • Government-appointed group will take control over most claims starting August 23
  • BP says it has paid $368 million in claims so far
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(CNN) -- BP said on Tuesday it would stop processing claims of people and businesses hurt by the Gulf oil disaster as a government-appointed group will take over responsibility on August 23.

The company said it would not accept any new claims after Wednesday and will start directing people to the Gulf Coast Claims Facility, led by attorney Kenneth Feinberg.

"Effective August 23, GCCF will be the only authorized organization managing business and individual claims related to the Deepwater Horizon Incident," the British energy giant said in a statement.

Feinberg is charged with independently administering the $20 billion fund set up to compensate for damage caused by the Gulf disaster that started after an April 20 explosion on an oil-drilling platform off the Louisiana coast.

BP, which said it has paid $368 million in claims so far, will continue to handle claims put in by government entities.

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