BP’s $525million Fair Fund is now open for claims from those affected by the Macondo oil spill disaster in 2010.
Distribution agent RCB Fund Services, confirmed the opening of the claims process.
The BP Fair Fund was established by the United States Securities and Exchange Commission to distribute $525 million in civil money penalties to investors harmed by BP’s “material misrepresentations and omissions” regarding the rate at which oil was flowing into the Gulf of Mexico as the result of the explosion on the offshore oil rig Deepwater Horizon, in which 11 people died.
The fund will compensate investors who suffered harm as a result of purchasing BP American Depositary Shares through a US securities exchange between April 26, 2010 and May 26.