People and businesses impacted by the BP Gulf Coast oil spill will now be able to receive a check almost immediately, so long as they give up their right to sue.

Gulf Coast Claims Facility Administrator Kenneth R. Feinberg announced the new “quick pay” program on Monday. Individuals can get $5,000 and businesses can get $25,000 without submitting any further documentation. However, a full release to waive the right to sue is required.

The “quick pay” program is available to the 166,000 individuals and businesses who have already received an emergency payment from the Gulf Coast Claims Facility, the independent organization in charge of the claims process. Claimants who are submitting claims for the first time or who have been denied for emergency payments are not eligible…..

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Boating news highlight courtesy of Boat History Report

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