Ocean Springs, MI (AP) - The administrator of a $20 billion
fund paying damages from the Gulf oil spill says claimants who want
quick resolution can receive a one-time payment worth thousands of
dollars, but they would get no more money.
Attorney Kenneth Feinberg said Monday that the new option, which
would pay claimants within two weeks, is for people who just want
to get on with their lives.
Feinberg says that individuals who have already received
compensation from the fund can now get a $5,000 check, but they
would have to relinquish their right to sue BP PLC and would not be
eligible for a final settlement. Businesses would receive a check
for as much as $25,000.
The other options are to seek quarterly interim payments for
losses, or file for a lump sum final settlement, also giving up the
right to sue BP over its April 20 oil well blowout.
(Copyright 2010 by The Associated Press. All Rights Reserved.)