BP, as we previously noted, agreed to set aside $20 billion dollars to compensate oil-spill victims. It’s a staggering amount made all the more so by the fact that the compensation fund doesn’t preclude states and individuals from pressing their claims in court.
Victims, according to WSJ, must first seek compensation from the fund, which is administered by Ken Feinberg. If they are unhappy with their allotted compensation, claimants can appeal to a three-judge panel.
But, if they are still dissatisfied after an appeal, they can head to court. BP, meanwhile, can appeal Feinberg’s decisions only when he grants a claimant more than $500,000.
The company also set aside $100 million to compensate workers left jobless because of the administration’s drilling moratorium.