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The law firm of Kenneth Feinberg, the man in charge of BP's $20 billion compensation fund for Gulf oil spill victims, has so far been paid about $3.35 million from BP PLC.
The Gulf Coast Claims Facility, which was set up to compensate fishermen, business owners and other Gulf Coast victims of the April 20 BP well blowout, said Thursday that BP agreed to pay Feinberg's firm $850,000 a month starting in mid-June.
The firm will continue to receive the fee monthly from BP through the end of the year, after which the contract will be reviewed.
President Barack Obama tapped Feinberg, who previously oversaw 9/11 victim payments, to run the BP claims fund, which the London-based company created under government pressure.