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BP escrow account will pay claims fast: Feinberg
A shrimp boat (L) equipped with containment booms heads out to sea as fishermen separate their catch at Joshua's Marina in Buras, Louisiana in this May 17, 2010 file photo.
Credit: Reuters/Hans Deryk
JACKSON, Mississippi |
JACKSON, Mississippi (Reuters) - A $20 billion fund set up by energy giant BP Plc to compensate financial losses due to a big oil spill in the Gulf of Mexico will pay legitimate claims fast, the fund's independent administrator said on Friday.
The fund would use a "transparent methodology" and there will be "prompt payment" of new claims while emergency interim payments will continue, said administrator Kenneth Feinberg, named to run the fund set up this week.
(Writing by Matthew Bigg, editing by Stacey Joyce)
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