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Ken Feinberg
US Judge: Spill Claims Czar Not Independent of BP
By not in system - AOL NewsNEW ORLEANS -- The administrator of the $20 billion compensation fund for Gulf oil spill victims is not independent from BP and must stop telling potential claimants that he is, a federal judge said in a ruling Wednesday that may spur more people to sue rather than settle. U.S. District Judge Carl Barbier said claims czar Ken Feinberg and any of his agents must change the way they communicate with people seeking money from the fund. The ruling came just hours after Feinberg released details on how final payments would be determined. The ruling cuts at the heart of one of Feinberg's central ...
Spill Victims Can't Sue BP if They Want Lump Sum
By Laura Parker - AOL News
WASHINGTON (Nov. 24) -- Fishermen, shrimpers and property owners who suffered financial losses during BP's oil disaster in the Gulf of Mexico must give up their right to sue BP if they accept a final lump-sum payment from BP's $20 billion compensation fund. That requirement is part of the new rules issued today that guides the payments as the process for compensating oil spill victims moves into a new phase. The 90-day period in which the fund made emergency payments ended Tuesday. Spill victims filing for emergency payments retained their legal right to sue BP. The new rules are in a ...
Gulf Coast Claims Facility Opens for Business
By Dana Chivvis - AOL News(Aug. 23) -- The Gulf Coast Claims Facility is open for business as of this morning. Independent administrator Ken Feinberg is manning the cash register, ready to hand out money from BP's $20 billion oil spill compensation fund to individuals and businesses that were hurt by the spill. Those who want to file a claim can do so online, by mail or at one of 35 claims centers in Alabama, Florida, Louisiana, Mississippi and Texas. The Gulf Coast Claims Facility will be holding three town hall meetings in Mississippi this morning. BP has already paid out $368 million in claims. That money is ...
Why Are Realtors Getting Their Own $60 Million Oil Spill Compensation Side Fund?
By Dana Chivvis - AOL News(Aug. 20) -- In its comprehensive story on the new Gulf Coast Claims Facility, which on Monday will begin processing claims for the BP oil compensation fund under Ken Feinberg, the New York Times included a short paragraph about a $60 million slice of the $20 billion fund being set aside for the compensation of gulf state real estate agents and brokers. The money would be distributed by the National Association of Realtors (NAR) or the related gulf state associations, with the national group writing the eligibility requirements, the Times wrote. The tidbit made Surge Desk scratch its head. ...
New Gulf Coast Claims Facility to Open: 8 Biggest Questions Answered
By Dana Chivvis - AOL News(Aug. 20) -- On Aug. 23, Ken Feinberg, the administrator of the $20 billion Gulf Coast compensation fund, will take control of the claims process for those affected by the BP oil spill. Until now, BP has been handling the hundreds of thousands of claims that have already been entered, with many complaining that their claims have been held up for months or only partially paid. The new Gulf Coast Claims Facility is unlikely to resolve all the problems -- and indeed may create new controversies -- but Feinberg has pledged to speed up the process. Surge Desk has the essential details on the ...
Obama Scores $20 Billion for Oil Spill Claims and an Apology From BP
By Alex Wagner - Politics DailyAs the five BP executives filed out of the West Wing of the White House following their meeting with President Obama on Wednesday, someone in the press corps began (softly) humming Darth Vader's Imperial Death March theme from "Star Wars." If BP CEO Tony Hayward -- in his first visit to 1600 Pennsylvania Ave.-- was Vader (BP Chairman Carl-Henric Svanberg was perhaps more an Emperor Palpatine?), then the hero of the hour -- the Skywalker of this Deepwater Horizon saga -- was clearly Barack Obama. During a meeting that was scheduled to last only 20 minutes but ended up running nearly two ...
Kenneth Feinberg: The New BP Escrow Czar, By the Numbers
By Joseph Schuman - Politics DailyFor Kenneth Feinberg, the career adjudicator tapped by President Barack Obama and BP executives to oversee the $20 billion victims-compensation escrow fund, the Gulf oil spill make-goods will be just the latest massive bounty of compensatory government cash passing through his hands. Obama said all individuals and businesses who suffered economic losses because of the spill can file claims for part of the $20 billion, and noted that Feinberg "has long experience in such matters." Among other duties, he has been the special master overseeing first the September 11 Victim Compensation Fund and ...
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