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Feinberg says faster BP claims process

by admin on July 2nd, 2010

The man who was in charge of the victim’s fund after 9/11 vowed today to increase the speed and fairness of the BP claims process. Ken Feinberg also said he would move to force BP to pay lump sum payments of 6 months of claims, rather than paying them out month to month. “Time is the enemy,” he said. “This is life for many people in terms of their financial instability and the need for financial certainty. We do not have a lot of time.” He claimed that BP has already paid out about 130 million on over 40 thousand claims. There are emergency and funds and long term settlement funds. We are assured that taking emergency funds money does not take away our right to sue at a later date. Feinberg also stressed that he is independent of both BP and the messy politics of Washington, and that he will do his best to make a difficult process, faster, fairer and transparent.

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