BP (NYSE:BP) Fund Administrator Kenneth Feinberg Backs Off on Proximity Rule

Kenneth Feinberg has caved under pressure, as the administrator of the claims portion of the BP escrow fund said he'll be more lenient than originally stated concerning geography in relationship to the claims being made.

Feinberg had said the closer claimants were to the coast the more likely they would be accepted.

This doesn't imply anything goes, just that there will be more openness in looking at claims which may be legitimate, but further away from the coast than other directly affected by the oil spill disaster.

Feinberg has been under fire for the slow claims process and not being generous enough in his decisions.