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Article

2 Feb 2011

Author:
Gerard Shields, Advocate [Louisiana, USA]

Feinberg addresses claims transparency complaints [USA]

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Facing increasing criticism over his handling of BP oil spill damage claim payments, Kenneth Feinberg announced Wednesday a methodology that he said will address complaints that the process has not been transparent. Claimants seeking final payments will receive double their documented 2010 losses caused by the spill, Feinberg said. Oyster harvesters will get four times the loss because the industry was harder hit, Feinberg said...“Prediction is not an exact science,” Feinberg said. “I’ve tried as best as I can to come up with a methodology that works.” Feinberg said he would be accepting public comments on the plan for two weeks on the claims facility website at http://www.gulfcoastclaimsfacility.com... Gov. Bobby Jindal [of Louisiana said]...“We...continue to have major concerns with the procedures Mr. Feinberg is attempting to establish. We continue to be opposed to the final releases of claimants’ rights.” [refers to BP]