New BP Fund Rules Offer Quick Pay For Lawsuit Waiver

Law360, New York (December 13, 2010, 7:32 PM EST) -- Claimants seeking final payments from the $20 billion BP PLC spill fund will now have a shortcut option for receiving their compensation, as long as they're willing to forfeit their right to sue the the energy giant and other companies connected with the disaster, under new rules unveiled Monday by Gulf Coast Claims Facility administrator Kenneth Feinberg.

Victims of the Deepwater Horizon spill may choose to take a one-time "quick pay" sum of $5,000 for individuals or $25,000 for businesses, but the claimants will have to...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.