The $20 billion fund set up to help compensate victims of giant BP’s Gulf of Mexico disaster does not prevent future lawsuits against the company that exceed that amount, according to the fund’s administrator.
Kenneth Feinberg, who also oversaw the U.S. bank bailout fund, said that the BP fund did not represent a cap on legal actions against the firm.
“The notion that the fund is there simply to insulate BP from lawsuits I think is very unfair,” Feinberg said. “There will be an opportunity at some point for an eligible claimant to decide to take subsequent funds in return for releasing BP from suit.”
Topics Claims
Was this article valuable?
Here are more articles you may enjoy.
NYC Mayor Eyes City-Run Insurance Program for Affordable Housing 
Florida Mobile Home Insurance Market Still Struggling With Premiums, Coverage 
Florida Needs More – Much More – Wind Mitigation, Say Experts at OIR Summit 
State Farm Agrees to $15M Settlement for Underpaid Vehicle Claims From This Issue
