Feinberg to Offer Oil-Spill Victims Quicker Payments
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Kenneth Feinberg, administrator of the $20 billion BP Plc oil-spill claims fund faulted for slow payments to victims, is offering a quicker process to final compensation.
Individuals would get $5,000 and businesses $25,000 within two weeks if they accept a fast-track payment process, Feinberg told reporters today on a conference call. Only recipients who received emergency payments are eligible, he said. The checks would be the final, lump-sum payments and in return the claimants must waive their rights to sue BP and the companies involved in the Gulf of Mexico spill.