Posted: Aug 23, 2010 5:20 PM by Mike Steele
Updated: Aug 23, 2010 6:53 PM
The federal government's lead man for oil spill related claims said to expect new regulations in the claims process.
Spill compensation fund coordinator Ken Feinberg said there will be clean lines drawn to determine who qualifies for benefits and who doesn't. 154,000 claims have been filed since the Deepwater Horizon explosion in the Gulf of Mexico. BP said it has payed $400 million in emergency payments so far.
Feinberg said limitations will be put in place concerning lawsuits. He said anyone who accepts a final settlement will be asked to waive his/her rights to sue BP. A settlement is different from emergency payments paid since the spill. Some Baton Rouge area businesses said they understand the need for a waiver if the settlement is fair. Others said giving up that right is risky because no one knows the long term impact of the spill.