Compensation agreed for less than half of BP claims

Compensation agreed for less than half of BP claims [not sure about that having trouble stopping it from busting]

Out of 450,000 claims only 175,000 were accepted to recieve part of $2.3billion payout

More than half of the 450,000 claims made to the BP oil spill compensation fund had no paperwork, bad paperwork or were potentially fraudulent, according to fund administrator Kenneth Feinberg.

But 175,000 people have had their claims accepted and can expect a slice of a payout that will total $2.3billion. Feinberg said the size of the compensation package was unprecedented. "There's never been anything like this in American history," he said during a telephone conference.

Claimants include out-of-work fishermen and hoteliers, bar owners and even strip club owners who claim their businesses were ruined by the oil spill.

Approximately 1,000 claims were judged to be fraudulent and have been handed over to the justice department according to Feinberg.

Read a full report at USAToday.

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