- CNTV English - CCTV News

US$20 bln fund: Only for compensation

06-25-2010 11:22 BJT

Watch Video

Play Video

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.


Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program