Feinberg Says Quick-Pay Option for BP Claims `Very Fair'

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Dec. 14 (Bloomberg) -- Kenneth Feinberg, administrator of the Gulf Coast Claims Facility, talks about the payment options for BP Plc oil-spill claims. Feinberg, speaking with Erik Schatzker on Bloomberg Television's "InsideTrack," said individuals would get $5,000 and businesses $25,000 within two weeks if they accept a fast-track payment process. Only recipients who received emergency payments are eligible, and the checks would be the final, lump-sum payments. In return, the claimants must waive their rights to sue BP and the companies involved in the Gulf of Mexico spill. (Source: Bloomberg)

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