Boeing Hires Kenneth Feinberg to Handle Payments to Crash Victims' Families

By Micah Maidenberg 

Boeing Co. has hired victim-compensation attorney Kenneth Feinberg to distribute $50 million to families who lost relatives in two crashes involving its 737 MAX planes.

Mr. Feinberg is a well-known victim compensation attorney who worked on determining payouts for those affected by the 9/11 attacks, families of people killed in accidents tied to a defective ignition switch in General Motors Co.'s Chevrolet Cobalts and other high-profile cases.

He was recently appointed as a mediator in cases involving Bayer AG's Roundup weedkiller.

Mr. Feinberg will work on determining payouts related to the Boeing MAX crashes with his longtime deputy Camille Biros. They will design a fund and administer the payments, Boeing said.

Boeing pledged $100 million earlier this month to support families and communities affected by the Lion Air crash in waters near Jakarta last October and the crash in Ethiopia in March. Both accidents involved MAX planes, killing 346 people and leading to the global grounding of the planes.

Chicago-based Boeing described Wednesday's announcement as an initial expenditure of the larger pledge. The goal is to provide families with near-term financial assistance, the plane manufacturer said.

Any of the $50 million in funds distributed by Mr. Feinberg and Ms. Biros will be independent from any resolutions achieved through the legal process, Boeing said.

Write to Micah Maidenberg at [e-mail]

(END) Dow Jones Newswires

July 17, 2019 11:45 ET (15:45 GMT)

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