Glass
22nd August 2010, 06:06 PM
Aug 22, 4:09 PM (ET)
By HARRY R. WEBER
NEW ORLEANS (AP) - The new administrator for damage claims from Gulf oil spill victims said Sunday it was his idea, not BP's, to require that anyone who receives a final settlement from the $20 billion compensation fund give up the right to sue the oil giant.
But Ken Feinberg told reporters that he has not yet decided whether the no-sue requirement will extend to other companies that may be responsible for the worst offshore oil spill in U.S. history.
He insisted that payouts from the claims facility he will run will be more generous than those from any court. Feinberg also ran the government compensation fund created after the 9/11 attacks, and there was a similar no-sue provision.
"It is not in your interest to tie up you and the courts in years of uncertain protracted litigation when there is an alternative that has been created," Feinberg said.
He added, "I take the position, if I don't find you eligible, no court will find you eligible."
more at link........ (http://apnews.excite.com/article/20100822/D9HOO7V00.html)
By HARRY R. WEBER
NEW ORLEANS (AP) - The new administrator for damage claims from Gulf oil spill victims said Sunday it was his idea, not BP's, to require that anyone who receives a final settlement from the $20 billion compensation fund give up the right to sue the oil giant.
But Ken Feinberg told reporters that he has not yet decided whether the no-sue requirement will extend to other companies that may be responsible for the worst offshore oil spill in U.S. history.
He insisted that payouts from the claims facility he will run will be more generous than those from any court. Feinberg also ran the government compensation fund created after the 9/11 attacks, and there was a similar no-sue provision.
"It is not in your interest to tie up you and the courts in years of uncertain protracted litigation when there is an alternative that has been created," Feinberg said.
He added, "I take the position, if I don't find you eligible, no court will find you eligible."
more at link........ (http://apnews.excite.com/article/20100822/D9HOO7V00.html)