Posted: Mar 8, 2012 11:05 AM
Source: Associated Press
NEW ORLEANS- A federal judge has signed off on a transition process that relieves Kenneth Feinberg of his duties as administrator of BP's $20 billion compensation fund for victims of the 2010 oil spill in the Gulf of Mexico.
Thursday's order by U.S District Judge Carl Barbier calls for a court-supervised administrator to take over the claims process from the Feinberg-led Gulf Coast Claims Facility.
The move is part of a proposed multibillion-dollar settlement between BP and plaintiffs' attorneys representing more than 100,000 individuals and businesses.
Barbier appointed Lynn Greer, a Richmond, Va.-based attorney, to fill in for Feinberg during the transition. Patrick Juneau, a Lafayette, La.-based attorney, will take over for Greer and serve as the court-appointed administrator for economic loss claims if Barbier gives preliminary approval to the settlement.