Deepwater Horizon Oil Spill Trust Deepwater Horizon Oil Spill Trust The "Deepwater Horizon" Oil Spill Trust is the $20 billion trust fund established by BP to settle claims arising from the "Deepwater Horizon" oil spill. The fund was established to be used for natural resource damages, state and local response costs and individual compensation. It was established as Gulf Coast Claims Facility (GCCF), announced on 16 June 2010 after meeting of BP executives with U.S. President Barack Obama. In June 2012, the settlement of claims through the GCCF was replaced by the court supervised settlement program. After the "Deepwater Horizon" oil spill started, BP promised
Volume and extent of the Deepwater Horizon oil spill of the spill. "With billions of dollars at stake, it is no surprise that they are now litigating the very numbers which they sought to impede." A BP spokesperson said that BP "fully intends to present its own estimate as soon as the information is available to get the science right." The oil's spread was initially increased by strong southerly winds caused by an impending cold front. By 25 April 2010, the spill covered and was only from the ecologically sensitive Chandeleur Islands. An 30 April 2010 estimate placed the total spread of the oil at . The spill quickly