Ken Feinberg's law firm to oversee $500M Boeing 737 Max victim compensation fund
The firm’s appointment came on the two-year anniversary of the Ethiopian Airlines crash
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The Justice Department has tapped victim compensation attorneys Ken Feinberg and Camille Biros to oversee the $500 million fund set up for the families of victims of fatal plane crashes involving Boeing 737 Max Aircraft.
Feinberg and Biros will supervise the dispersal of payments to relatives and other beneficiaries, a representative for the Law Offices of Kenneth Feinberg confirmed. A total of 346 people were killed in two plane crashes in Ethiopia and Indonesia.
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The law firm’s appointment came on the two-year anniversary of the Ethiopian Airlines Flight 302 crash. Boeing previously enlisted Feinberg’s law firm to oversee $100 million humanitarian fund for communities affected by the crashes.
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Feinberg’s law firm previously administered compensation funds for victims of the Sept. 11 attacks and BP’s Deepwater Horizon oil spill.
Reuters was first to report on Feinberg Law Offices’ appointment. The Justice Department and Boeing did not immediately respond to requests for further comment.
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Boeing established the $500 million fund in January as part of a deferred prosecution agreement with the Justice Department. Federal prosecutors accused Boeing executives of misleading regulators regarding the safety of its 737 Max aircraft prior to the deadly crashes.
The company also agreed to pay a $243.6 million fine and $1.77 billion in compensation to airlines as part of the settlement.
737 Max aircraft were grounded for nearly two years following the crashes. The Federal Aviation Administration approved the plane’s return to service last November.