WASHINGTON — Kenneth Feinberg and his law firm have been paid more than $2.5 million in 3 1/2 months to administer the $20 billion fund set up by BP to compensate victims of its oil spill in the Gulf of Mexico.
The London-based oil company agreed to pay the Feinberg Rozen firm a flat fee of $850,000 a month from mid-June, when Feinberg agreed to run the claims facility, through Oct. 1, according to a report Friday on the compensation by former U.S. Attorney General Michael Mukasey.
Mukasey, who was asked to evaluate the compensation by Feinberg, said it was reasonable for demanding work under close scrutiny by Gulf Coast residents, public officials and BP.
The $850,000 monthly payments will continue through year- end and then will be reviewed, a person familiar with the contract said Friday. Bloomberg News
