‘Not enough money in world’ to pay every spill claim: oil fund czar
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The prominent US lawyer managing BP's 20-billion-dollar oil disaster fund said Wednesday not all claimants will be paid, especially some of those seeking compensation for falling houses prices.
"There's not enough money in the world to pay every single small business that claims injury no matter where or when," Kenneth Feinberg told the House of Representatives Committee on Small Business.
"You've got to decide in a principled way... and work out some definition in that regard," he said, while stating his determination to "pay every eligible claim."
"I use that famous example of a restaurant in Boston that says, 'I can't get shrimp from Louisiana, and my menu suffers and my business is off.'" Well, no law is going to recognize that claim."
In another example, Feinberg said the fund was not meant to pay out to all home owners whose properties had declined in value.
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