Oil Spill Disasters

Gulf spill fund gets flood of last-minute claims

Forbes |

In Brief...

The administrator of a $20 billion fund set up to pay for damages from the Gulf oil spill said Wednesday he received a flood of last-minute emergency claims before a key deadline ended.. Kenneth Feinberg said about 450,000 emergency claims were filed by Tuesday's deadline. In the next phase of the claims process, people and businesses will be able to ask for a lump sum payment, so long as they agree not to sue BP ( BP - news - people ) PLC or other companies involved in the spill. Feinberg gave no estimate on how many claimants might opt to settle with BP rather than seek short-term payments. James P. Roy, a member of a lawyers' steering committee for lawsuits against BP, said it appeared Feinberg was attempting to get as many people as possible to settle prematurely with BP as he announced nuances for future claims on the day before Thanksgiving.. "We feel that Mr. Feinberg is preying on the victims at the height of the holidays in an effort to settle this case and absolve his client - BP," Roy said. BP also has the right to appeal awards larger than $500,000..

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