BP claims administrator: BP “has not yet deposited any money into the $20 billion escrow fund”; Unable to write checks


Feinberg says BP hasn't put money in escrow account yet, Alabama Press Register, July 24, 2010:

Ken Feinberg said today he hasn't been able to start writing claims checks because BP PLC has not yet deposited any money into the $20 billion escrow fund it promised to create. ...

Feinberg said he doesn't have the authority to force BP to deposit the money, and that he can't start making payments until it does. "I don't want the checks to bounce," he said.

Read more at: http://blog.al.com/live/2010/07/feinberg_bp_hasnt_put_money_in.html

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