Kenneth Feinberg To Look After The Funds For BP Oil Spill Victims
June 17th, 2010 - 7:47 pm ICT by GDBy Gina Gomez
Washington, June 17, (THAINDIAN NEWS) Highly renowned attorney Kenneth Feinberg who is known to have been overseen the September 11 Victim Compensation Fund in the wake of the terrorist attacks, has been given the responsibility to oversee the funds that is being negotiated by the oil giant BP to give compensation to the victims of the Gulf Coast oil spill.
On Wednesday, United States President Barack Obama announced that the noted attorney would be the independent administrator of the oil spill fund to be established by BP.
While revealing that Kenneth Feinberg would have a whopping $20 million to get started with the mammoth task, President Barack Obama further stated that he had full confidence in the attorney’s ability to ensure that the victims of the Gulf Coast oil spill would be getting their compensation as quickly and fairly as possible.
The United States President also emphasized that Kenneth Feinberg had the proper experience to successful carry out the responsibilities that the task entitles. The announcement of the attorney comes on the heels of President Barack Obama’s Oval Office address on Tuesday night in which he added that BP should create a restitution fund to ensure that the victims of the oil spill disaster receive proper compensation.
While reacting to the selection of Kenneth Feinberg as the overseer of the BP fund, New York senator Chuck Schumer added that the victims of the disaster can now be confident that they are going to get the appropriate assistance when someone as fair and as diligent as Kenneth Feinberg is running the fund.
In the past one year, the attorney is known as a ‘pay czar’ who deals with limiting the salaries of employees of automobile industries as well as banks that got government bailouts.
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- BP to pay $7.8 bn to victims of oil spill - Mar 05, 2012
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- President Obama hails Adm. Allen as he retires as oil spill commander - Oct 02, 2010
- President Obama addresses BP oil spill catastrophe - May 15, 2010
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