BP Claims Fund Pays Out $10 Million in First Week Under Feinberg

Kenneth Feinberg, who last week took over the claims process for BP Plc's Macondo well oil spill, has so far paid nearly $10 million in emergency payouts to Gulf Coast residents who have suffered economic harm, documents show. Feinberg, who promised a speedier and more transparent claims process to frustrated Gulf residents, oversees a $20 billion fund set up by BP in June at the insistence of U.S. President Barack Obama.