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US$20 bln fund: Only for compensation

06-25-2010 11:22 BJT

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Litigation lawyers involved in the oil spill disaster case say BP's 20 billion US dollar fund should only be used to compensate victims.

The lawyers said they were shocked to hear the fund was being used for purposes other than compensating victims suffering economic losses from the worst oil spill in US history.

The White House and the fund's administrator Kenneth Feinberg have said the 20 billion dollar fund isn't the maximum amount BP could be asked to pay.

The oil giant agreed to set up the fund under pressure from US President Barack Obama and public anger. Experts say clean-up costs alone could amount to 30 billion US dollars in Louisiana, Mississippi, Alabama and Florida.

 


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