BP was handling claims internally. If they needed help and asked then things would be well and good.
They were pressured into letting the US Gov hand out money as it sees fit and BP can only dispute amounts over $500k. The fund "might" work out to be a good thing, the means of getting them stinks. It's more of a way to save face for not even talking to the CEO for 51 days. Suddenly Obama looks good. To me he looks like an ambulance chaser. If he was putting this kind of pressure on a month ago the meter might not be so high. http://online.wsj.com/article/SB10001424052748704198004575310571698602094.html The White House announced that the compensation fund would be run by Kenneth Feinberg, the independent administrator who oversaw executive compensation at banks that took public money under the financial-industry rescue plan. Previously, he ran the fund that handled claims from victims of the Sept. 11, 2001, terror attacks. ... Dissatisfied individuals and businesses, as well as local, state, tribal and federal claimants, would be offered interim payments, but could appeal to a new three-judge panel. If they are still unhappy, they could take their claims to court or seek compensation under the existing Oil Spill Liability Trust Fund, set up in the wake of the 1989 Exxon-Valdez spill by the Oil Pollution Act. White House officials said BP agreed to wave liability limits under that act. The interim payment would be subtracted from awards that are above and beyond it. BP can only appeal Mr. Feinberg's decisions if the claim granted is in excess of $500,000, or if Mr. Feinberg specifically allows an appeal. On Thu, Jun 17, 2010 at 2:07 PM, Judah McAuley <ju...@wiredotter.com> wrote: > > Has the government declared that they are going to step in and become > claims mediators? I have no idea if that is legal or not but I am > unaware that anyone from the Federal government has claimed that they > are unilaterally taking that role on. From everything I know, BP still > has all the normal avenues of the court system available to them. > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology-Michael-Dinowitz/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:321421 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
