New York, NY – June 11, 2012 -- The U.S. Department of Justice just released BDO’s independent evaluation of the Gulf Coast Claims Facility (“GCCF”). The GCCF was designated by BP to receive and process claims by individuals and businesses for costs and damages as a result of the oil discharges from the April 20, 2010 Deepwater Horizon incident.
BDO’s independent evaluation focused on setting forth an explanation of the GCCF’s formation and operations, reviewing claim outcomes for possible errors and addressing certain concerns raised by claimants, public officials and other stakeholders.
“Our work in conducting the independent evaluation was extensive,” said BDO Consulting Partner Anthony M. Lendez. “We assembled a team of over 130 professionals with varied backgrounds in investigations, claims administration and the preparation of business interruption claims related to catastrophic events to perform the evaluation. We utilized our forensic technology and programming capabilities to review over one million claims in order to identify erroneous underpayments to claimants.” Lendez added.
“Throughout the course of our work, we were mindful of the unprecedented nature of the 2010 Deepwater Horizon explosion and resulting oil spill, as well as its acute financial impact on the individuals and businesses in the Gulf region,” said Carl W. Pergola, Executive Director of BDO Consulting. “The results of our examination were only made possible by the earnest input and assistance of representatives of Attorneys General of the Gulf States and the U.S. Department of Justice, who were focused on addressing the public’s concerns,” Pergola added.
BDO’s findings and observations are posted on the U.S. Department of Justice’s website at http://www.justice.gov/opa/documents/gccf-rpt-find-obs.pdf, which include a discussion of the GCCF’s resources and qualifications necessary to process over one million claims resulting in payments of over $6.2 billion, the approximately $64 million in erroneously underpaid claims and our recommendations for future claims processing facilities.
About BDO Consulting
BDO Consulting, a division of BDO USA, LLP, provides litigation, investigation, insurance claims, business restructuring and risk advisory services to clients in the United States and internationally. Our highly experienced and well-credentialed professionals leverage the global industry and accounting knowledge of the BDO international network, providing rapid, strategic advice to assist our clients.
About BDO USA, LLP
BDO is the brand name for BDO USA, LLP, a U.S. professional services firm providing assurance, tax, financial advisory and consulting services to a wide range of publicly traded and privately held companies. For 100 years, BDO has provided quality service through the active involvement of experienced and committed professionals. The firm serves clients through more than 41 offices and more than 400 independent alliance firm locations nationwide. As an independent Member Firm of BDO International Limited, BDO serves multinational clients through a global network of 1,118 offices in 135 countries.