Ken Feinberg – the claims administrator charged with making whole those damaged by this summer’s BP oil spill – is in line to make more than $30 million, all paid by BP.
When the Gulf Coast Claims Facility opened in August, Feinberg said details of how much he was to be paid had not been finalized. An agreement reached in October spells out that Feinberg’s Washington law firm Feinberg Rozen will receive $850,000 per month from BP for his services.
That’s a total of more than $30.6 million over the three-year life of the Claims Facility.
Feinberg was appointed by agreement between President Obama and BP to head the $20 billion compensation effort funded by BP.
He also was in charge of the Sept. 11 victims compensation fund and the memorial fund following the shootings at Virginia Tech. In addition, he successfully negotiated a settlement between Vietnam War veterans and the manufacturers of Agent Orange.