BP has initiated a $20 billion compensation fund by depositing $3 billion into the account yesterday. The CEO of BP's Gulf Coast Restoration Organization, Robert 'Bob' Dudley, claims the $3 billion initial contribution to the escrow fund is intended to back up the company's pledge to "make good" economic losses caused by the spill to Gulf Coast fishermen, tourism operators and homeowners.BP is selling about $30 billion in assets in order to finance the compensation fund. (Wash Post, 8/10/2010)
No comments:
Post a Comment