“BP still confronts very uncertain, pervasive liability in court,” Feinberg
“It would be a nightmare,” says Ken Feinberg, the man in charge of spending the $20bn (£12.8bn) BP has set aside for victims of the Gulf of Mexico oil spill.
The attorney is contemplating a future in which BP went bust. With the Macondo well finally cemented last weekend, such speculation seems outlandish. But the 64 year-old knows that political pressure can prove as toxic as any crude that has flowed into US waters. He was, after all, appointed in June by President Barack Obama to run the Gulf Coast Claims Facility (GCCF) as the administration’s anti-BP rhetoric threatened to send the company’s already weakened shares into free fall.
Ken Feinberg is in charge of spending the $20bn BP has set aside for victims of the Gulf of Mexico spill, but his job is far from straightforward. Read more..