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BP Victim Fund Winds Down, Only $4 Billion Of $20 Billion Used

By Brad Johnson on May 31, 2011 at 10:57 am

"BP Victim Fund Winds Down, Only $4 Billion Of $20 Billion Used"


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The $20 billion fund set up by BP to pay restitution to the economic victims of its Gulf of Mexico disaster is likely to remain mostly untouched, the man hired by the oil giant to handle the payments says. “I’ve used just over $4 billion,” BP’s victim fund administrator Kenneth Feinberg told the London Telegraph. “I don’t envision a flood of new claims.” The disaster “devastated hundreds of miles of coastline from Texas to Florida, killing wildlife and wrecking key local industries, such as tourism and fishing.”

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