Court takes over oil spill claims

The man who has overseen the long, complicated job of paying out billions of dollars to the victims of the BP oil spill was relieved of his duties today when a federal court took over the claims process in the aftermath of a historic settlement agreement. U.S District Judge Carl Barbier’s order calls for a court-appointed administrator to take over from the Gulf Coast Claims Facility led by Kenneth Feinberg, who previously oversaw a compensation fund for victims of the 9/11 terrorist attacks. The move is part of a proposed multibillion-dollar settlement between BP and plaintiffs’ attorneys representing more than 100,000 individuals and businesses. Feinberg says he was honored to oversee the claims process. “It was a difficult assignment, but I think we fulfilled our mandate,” Feinberg tells The Associated Press. BP agreed to pay up to $20 billion to compensate commercial fishermen, charter captains, property owners, hotels and others who claim they suffered economic losses after the spill. The GCCF has processed about 221,300 claims and paid out more than $6 billion from the fund. The judge appointed Lynn Greer, a Richmond, Va.-based attorney, to fill in for Feinberg and serve as transition coordinator. Patrick Juneau, a Lafayette-based attorney, will take over for Greer and serve as the court-appointed administrator for economic loss claims if Barbier gives preliminary approval to the settlement announced on Friday. BP says it expects to pay out $7.8 billion in the settlement, but plaintiffs’ attorneys say the deal is uncapped. Read the full story here.