Latest In

Breaking News

How Oil Spill Victims Will Be Compensated « The Washington Independent

Jul 31, 2020
460 Shares
460.4K Views
Kenneth Feinberg, who takes over as administrator of the Gulf oil spill compensation fund on Monday, released today a set of guidelines for emergency payments paid in the interim to victims of the spill.
Those affected by the oil spill can file claims for interim emergency payments from Aug. 23 to Nov. 23. After that time, victims will have until Aug. 23, 2013 to file final claims. Under a final claim, a claimant must file one claim for all of his future losses. As a condition of accepting the final claim, the claimant must sign an agreement waiving the right to sue BP in the future. As I’ve noted before, some in the Gulf fear that this process will force victims to file final claims before they know the true extent of the damages in the region.
But Feinberg, who has just finished up a marathon series of town hall meetings in Gulf states, says the final claims will be based on the best available information on the long-term impacts of the oil spill on the Gulf.
The protocol for final claims will be issued “in the near future,” according to Feinberg’s office. In the meantime, here is the emergency payment protocol. I’ll post more on the details once I go through it.
Camilo Wood

Camilo Wood

Reviewer
Camilo Wood has over two decades of experience as a writer and journalist, specializing in finance and economics. With a degree in Economics and a background in financial research and analysis, Camilo brings a wealth of knowledge and expertise to his writing. Throughout his career, Camilo has contributed to numerous publications, covering a wide range of topics such as global economic trends, investment strategies, and market analysis. His articles are recognized for their insightful analysis and clear explanations, making complex financial concepts accessible to readers. Camilo's experience includes working in roles related to financial reporting, analysis, and commentary, allowing him to provide readers with accurate and trustworthy information. His dedication to journalistic integrity and commitment to delivering high-quality content make him a trusted voice in the fields of finance and journalism.
Latest Articles
Popular Articles