Feinberg to lay out details on BP spill claims

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Posted: Nov 24, 2010 8:42 AM
Source: Associated Press

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Topics: BP, Gulf of Mexico, Deepwater Horizon, Kenneth Feinberg

NEW ORLEANS - The deadline to make an emergency Gulf of Mexico oil spill claim is over and the administrator of the $20 billion fund is laying out more details about what happens next.

Kenneth R. Feinberg is going to talk to reporters Wednesday about how the process will move forward from initial emergency payments to interim and final claims.

So far, Feinberg says about $2 billion has been paid out to 125,000 people and businesses. He has come under pressure to speed up payments and be more transparent about why claims are being
turned down.

The claims were needed after an offshore oil rig leased by BP exploded in the Gulf and released millions of gallons of oil into the sea. Fishermen, businesses and the tourism industry were hurt
by the massive spill.

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