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Jul 15, 2010 12:25 PM by Melissa Canone

$20 Billion From BP Being Paid Out Early August

METAIRIE, La. (AP) - The $20 billion that BP has set aside to
pay for losses caused by the Gulf of Mexico oil spill will start
making payments in early August.
Ken Feinberg, who is in charge of paying individuals and private
businesses for their lost income, told a meeting of government
officials in Louisiana on Thursday that he expected a seamless
transition from BP management to his administration.
The fund has not been tapped yet, but Feinberg said by the end
of the first week of August his group would be ready to make
payments.

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