Industry NewsMarkets & Economy

BP fund overseer gives credit to Realtors

Feinberg: Associations' compensation program 'continues to work'

Don't miss the real estate event of the summer
Join 4,000 real estate pros at Connect SF, Aug 7‑11, 2017

NEW ORLEANS -- Kenneth Feinberg -- the attorney overseeing a $20 billion fund set up to compensate victims of the BP oil spill in the Gulf of Mexico -- received three standing ovations Sunday when he addressed Realtors at their annual convention.Realtors and association executives rose to their feet and unleashed a spontaneous round of applause when Feinberg walked into a meeting room at the Ernest N. Morial Convention Center, a few minutes late.Feinberg got another standing ovation when he finished briefing the group on the progress the Gulf Coast Claims Facility, as the third-party administrator of the relief fund is known, has made in distributing funds set aside by oil giant BP.After a short Q-and-A session, Feinberg said he had to leave for another meeting he expected would be more contentious. Realtors rose to their feet again and sent him on his way in another round of applause.It was an emotional demonstration of the gratitude Gulf Coast Realtors have for Feinberg's decision --...