[StBernard] Oil spill fund manager in St. Bernard

[Westley Annis]

Oil spill fund manager in St. Bernard 
Reported by: Shelley Brown, Weekend Anchor 
Email: sbrown at fox8tv.net 
Last Update: 6/25 11:01 pm  

    
Ken Feinberg, administrator of the Independent Claims Facility for BP's $20
billion escrow fund, hosts a public meeting with concerned residents and
fishermen in Larose, La., Friday, June 25, 2010 (Gerald Herbert, AP via
Yahoo! News) The man charged with handling BP's spill-related claims was in
Southeast Louisiana Friday to meet with people whose livelihoods are in
jeopardy.

Kenneth Feinberg told people in St. Bernard Parish, the new system to handle
BP's $20 billion compensation fund will be up and running on the Gulf coast
within 30 days. 

"It's not often that we have somebody that carries a $20 billion checkbook
that comes through St. Bernard.. so we're certainly happy to have Mr.
Feinberg here." 

Independent of BP and Washington, Feinberg said the fund program will be
used not only for claims, but resources and cleanup efforts. 

BP is paying Feinberg to manage the compensation fund, which will pay out $5
billion for the next four years.  Feinberg repeatedly said BP has promised
if $20 billion is not enough money, the oil giant will replenish the fund.
He said, "funding is not a problem here. It's not a problem."


Feinberg said compensation fund changes expected in the weeks ahead include
the option to file a claim online.  He said they'll add personnel at claims
offices, hire more locals who understand the sensitivity of the disaster,
and the fund will pay out emergency assistance in a matter of days. 

"This emergency assistance money is in no way conditioned.. no way.  If
you're eligible, you corroborate it, you'll get a check," said Feinberg. He
said people will also have a choice to take a lump sum check for total
losses, however on one condition.  Feinberg said, "if it's corroborated and
you're eligible.. here' s the check but sign this release that this is in
full satisfaction of any and all future litigation or claims against the
facility.. BP."

"If that storm comes in the Gulf, the oil comes back into our marshlands..
that's gonna cut us off for the next 10 years.  You think they gonna pay $20
billion every year?" asked one concerned spill victim. 

Feinberg heard many concerns and questions, and said he'll take locals input
into consideration when devising his plan for the program.

Sen. Mary Landrieu (D-Louisiana) who was traveling with Feinberg said, "the
industry has spilled 7,000 barrels of oil in 10 years. We're spilling 7,000
barrels of oil every few hours and have for the last 68 days with no end in
sight."

A region suffering an unprecedented challenge is putting faith in a man with
a reputation for settling big and complicated issues.