BP (BP) Claims Fund, Feinberg Hit with Fraud Lawsuit

The BP (NYSE:BP) $20 billion claims fund and administrator Kenneth Feinberg have been hit with a lawsuit claiming fraud and negligence over distribution of the funds.

A firm called Pinellas Marine Salvage has alleged Gulf Coast Claims Facility and its administrator, Kenneth Feinberg, hasn't acted in the best interests of victims.

Pinellas Marine Salvage, which says Feinberg and the fund "circumvent many of the rights provided to victims of the BP oil spill under the Oil Pollution Act of 1990," is seeking economic, compensatory, and punitive damages in the complaint.

Anyone can file a lawsuit making any claim they want, but so far there hasn't been a shred of evidence Feinberg has willingly of purposefully paid victims of the Gulf spill less than should have been.

As a matter of fact, Feinberg has lamented for a long time that a large percentage of claimants don't have the documentation to prove they are owed what they assert.

Much of this is precipitated by greedy lawyers looking to cash in on the pain of the victims, attempting to smear the overall process in order to pressure claimants to use them to represent them, rather than go through the claims process.