Realtors announce BP spill fund to cover their losses

The Mississippi Association of Realtors has issued a news release this morning confirming that attorney Kenneth Feinberg, who today took over administration of individual and private business loss claims from the BP oil catastrophe, will set up a special fund to reimburse Gulf Coast real estate agents and brokers for their losses.

The news release did not include a fund amount, but Feinberg confirmed on Sunday that it would be up to $60 million for the five Gulf states.

“The impact of the oil spill here in Mississippi has been widespread, affecting local businesses, wildlife and the environment,” said Mississippi Association of Realtors President Tony Jones of Olive Branch. “This also includes local licensed real estate professionals who have experienced financial losses due to transactions that were terminated or never even initiated in Harrison, Hancock and Jackson Counties because of the oil spill.

Read more at The Sun Herald
8/23/10