New Orleans, La. – Attorney Kenneth Feinberg says that after today, people filing claims for a final settlement offer will have to give up their right to sue BP. The fund administrator says he wants to keep people out of the court system. The final offer can be delayed, but claimants will risk a smaller payment if losses aren't as bad as anticipated. Fishermen, for instance, may wait to see if their business recovers. If it does, finals payments won't be as large. If people accept the final payment, they won't be able to sue BP or any of the other companies involved, such as the Deepwater Horizon rig owner, Transocean of Houston. Another option is filing for interim payments every quarter for the next three years, which would NOT require a waiver of legal rights. The federal court in New Orleans is handling hundreds of lawsuits filed after the spill.
For WWNO, I'm Eileen Fleming.