Nightmare: Caroline Baum
By Caroline Baum - Jun 24, 2010
It would be a “horror,” a “disaster,” according to lawyer Kenneth Feinberg, who was appointed by President Barack Obama to administer BP Plc’s $20 billion compensation fund for victims of the Gulf oil spill. “That is not an option.”
Feinberg was talking about a bankruptcy filing by BP in a Fox News interview.
“Bankruptcy absolutely is an option, and the U.S. needs to recognize that,” said Peter Kaufman, president and head of restructuring and distressed M&A at the Gordian Group, an investment bank in New York.
Which is it?