Government opens final settlement process in gulf oil spill

BP’s $20-billion compensation fund will begin lump-sum payments to those affected by the spill, a U.S. official says. But recipients will forfeit all future claims against BP and other defendants. The $20-billion compensation fund created by BP in the aftermath of the Gulf of Mexico oil spill will begin issuing lump-sum payments to residents affected by the disaster as part of a final settlement program, Kenneth R. Feinberg, the federal official overseeing the fund, said Wednesday.

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Government opens final settlement process in gulf oil spill