Tags: US | Gulf | Oil | Spill | Claims

BP Claims to Be Paid out Faster, With No Limit

Thursday, 01 Jul 2010 03:31 PM

The administrator of the $20 billion escrow fund established to pay BP claims says he's changing the system so businesses can get emergency, lump-sum payments.

Kenneth Feinberg said Thursday that the payments will be expedited and won't have a predetermined limit.

Alabama Gov. Bob Riley lobbied hard for the change.

Riley says many businesses that had received $5,000 emergency payments on a month-to-month basis were frustrated by having to ask for additional payments every few weeks.

Riley says each claim needs to be looked at individually, and each business paid what is fair based on what they need.

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