Washington (CNN) — The man charged with independently administering the $20 billion fund set up to compensate for damage caused by the Gulf oil disaster said Sunday that he is prepared to provide up to six months in emergency compensation without the requirement of releasing BP from liability.
In an appearance on CNN’s State of the Union, attorney Kenneth Feinberg said he expected to have his independent compensation program running by the first week of August. Feinberg told CNN Chief Political Correspondent Candy Crowley that his operation will be superimposed on top of the claims process already put in place by BP, which has more than 1,000 people working out of 35 offices in the Gulf Coast region.
“We’ll keep the people who are good. We’ll add people. We’ll accelerate claims. We’ll process the claims as quickly as we can,” Feinberg said. “We’re already prepared to give eligible claimants not one month emergency payments but six months with no obligation, no release required. Just to try and help people in the Gulf.”
Full Story: http://www.cnn.com/2010/POLITICS/07/11/pol.sotu.bp.claims/index.html