BP to stop handling most Gulf claims

CNN Wire Staff

[cnn-photo-caption image=http://www.cnn.com/video/us/2010/08/18/lavandera.canyon.oil.cnn.640×360.jpg caption="BP says it won't accept any new claims after Wednesday" width=300 height=169]

BP has picked Wednesday as the deadline for accepting claims from people and businesses affected by the Gulf oil disaster.

After that, the oil giant will direct 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 escrow account established by BP to compensate for damage caused by the Gulf disaster.

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