This is pretty amazing. We had to wait for a British paper to inform us of the BP/Feinberg payout plan. Read this carefully:
The fund does not cap BP's liabilities at $20bn. But privately the company believes that it will not have to pay out anywhere near this sum. BP has hired a battery of lawyers to protect itself, and so far it has paid out $261m in claims.
When Feineberg takes over this month, for the first time claimants will be offered a one-off sum based on their future lost earnings, provided they agree not to sue BP.
"The fund will offer lump sum payments in return for an agreement not to pursue claims in court," a spokeswoman said. Claimants will also be able to receive an emergency payout to cover their lost income for up to six months without waiving their right to sue BP. BP had been making monthly payouts.
It's simply amazing that our local Gulf Coast media resources never got around to reporting this. If there is a media outlet on the Gulf Coast who gives a damn about the people it serves, at the very least they would have reported the payout clause and at the most they should be calling for Feinberg to be replaced by a lawyer or a group of lawyers from the Gulf Coast region. Instead Feinberg got a love letter and was portrayed as the messiah.