BP Fund Administrator To Allow Lump-Sum Payments

Law360, New York (July 2, 2010, 2:53 PM EDT) -- The $20 billion fund set up to pay BP PLC oil spill claims will reportedly provide for emergency lump-sum payments to businesses struggling to survive in the wake of the oil leak in the Gulf of Mexico.

Kenneth Feinberg, the newly appointed administrator of the so-called Gulf Coast Claims Facility said Thursday after a meeting in Alabama with the state Gov. Bob Riley that he would add that to the fund’s policies at the governor’s request, according to the Associated Press.

The payments to businesses in...
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