Spill-Fund Chief Softens Stance - Wall Street Journal

The overseer of a $20 billion oil-spill fund said Wednesday he would allow claimants affected by the largest marine oil spill in U.S. history to keep getting temporary relief as they ponder whether to seek a final lump-sum payment or to sue BP PLC and other companies involved in the incident.

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The decision marks a concession from the fund's independent administrator, Kenneth Feinberg, who had previously said claimants would have to surrender their right to sue the U.K.-based oil company in order to receive payments beyond emergency disbursements.

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Gulf Coast residents had complained that the emergency payments were so small they felt pushed into a hurried settlement with the oil company to get more money. The deadline to apply for emergency payments expired Tuesday. Now, under the new rules, businesses and individuals may request compensation once a quarter over the next three years while they decide whether to permanently settle their claim. The program officially began Wednesday and lasts through Aug. 23, 2013.

Spill-Fund Chief Softens Stance - Wall Street Journal