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Claim Process News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Detailed text transcripts for TV channel - FOXNEWS - 20100616:23:05:00

notch on the p.r. disaster panel there. so how will this $20 billion fund the claims process work? it s $20 billion provided by b.p. over the next four years. so an allocation roughly of $5 billion a year though it could be adjusted if claims come in. now, all right, there s a claim process. 66,000 claims have been awarded. my notes tell me about $81 million has already been disbersed. the white house promises this will be a seamless transition to a claims process to be supervised by kenneth feinberg. some americans may remember him as the person in charge of paying off claims after 9/11. most recently, he has been charged of executive compensation for big banks that sought relief under the troubled asset relief program. if ken feinberg makes an award, b.p. simply must pay, it s only appealable if it s in excess of $500,000 and then it goes to a three member panel. basically, ken feinberg s words, it s nearly final. it will speed up the claims

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