$460M Lac-Megantic settlement fully funded, payments to start next month

PORTLAND, Maine -- A $460 million settlement fund for victims of the Lac-Megantic oil train disaster in Canada is fully funded, keeping the process on track for the first payments to victims early in the new year.

See Full Article

Robert Keach, the court-appointed bankruptcy trustee in Portland, Maine, announced this week that the settlement is being wired to a wrongful-death trustee and to the Canadian monitor, Richter Group.

About $114 million will be used to settle wrongful-death claims, and Keach says the wrongful-death trustee will begin distributing those cheques "as soon as possible." Distribution of the remainder to other victims will proceed as well.

The disaster was caused when a runaway train with 72 oil tankers derailed in July 2013, in Lac-Megantic, Quebec, killing 47 people and causing raging fires.



Advertisements

Latest Canada & World News

  • Mali prime minister lashes out at France, UN, saying country had been 'stabbed in the back'

    World News CTV News
    Mali's prime minister lashed out Saturday at former colonizer France, the UN. secretary-general and many people in between, saying that the tumultuous country had been "stabbed in the back" by the French military withdrawal. In the same remarks, Abdoulaye Maiga praised the "exemplary and fruitful cooperation between Mali and Russia. Source
  • China on Taiwan: 'External interference' won't be tolerated

    World News CTV News
    UNITED NATIONS - China underscored its commitment Saturday to its claim to Taiwan, telling world leaders that anyone who gets in the way of its determination to reunify with the self-governing island would be "crushed by the wheels of history. Source
  • Pharoah Sanders, influential saxophonist revered in jazz world, dead at 81

    World News CBC News
    Pharoah Sanders, the influential tenor saxophonist revered in the jazz world for the spirituality of his work, has died, his record label announced. He was 81. Sanders, also known for his extensive work alongside John Coltrane in the 1960s, died in Los Angeles early Saturday, said the post on Twitter from Luaka Bop, the label that released his 2021 album, Promises. Source
  • Queen Elizabeth II's final resting place revealed in new Windsor Castle photograph

    World News CTV News
    Buckingham Palace has released a photograph of Queen Elizabeth II's final resting place within St. George's Chapel following her interment in Windsor on Monday. An engraved ledger stone featuring the name of the late monarch was installed in the King George VI Memorial Chapel, an annex to the main chapel, on Monday evening after a private service attended by her family. Source
  • Russian police block mobilization protests, arrest hundreds

    World News CTV News
    MOSCOW - Russian police moved quickly Saturday to disperse peaceful protests against President Vladimir Putin's military mobilization order, arresting hundreds, including some children, in several cities across the vast country. Police detained more than 700 people, including over 300 in Moscow and about 150 in St. Source
  • Families mourn as death toll from sunken Lebanon migrant boat rises to 86

    World News CBC News
    The death — toll from a migrant boat that sank off the Syrian coast after sailing from Lebanon earlier this week has risen to 86, Syrian state TV reported on Saturday. The sinking marks the deadliest such voyage yet from Lebanon, where mounting economic desperation has led many to board often rickety and overcrowded boats in the hope of reaching Europe. Source
  • Families mourn as death toll from sunken Lebanon migrant boat rises to 94

    World News CBC News
    The death — toll from a migrant boat that sank off the Syrian coast after sailing from Lebanon earlier this week has risen to 86, Syrian state TV reported on Saturday. The sinking marks the deadliest such voyage yet from Lebanon, where mounting economic desperation has led many to board often rickety and overcrowded boats in the hope of reaching Europe. Source
  • NASA cancels moon rocket launch for 3rd time due to possible hurricane

    World News CBC News
    NASA is skipping next week's launch attempt of its new moon rocket because of a tropical storm that's expected to become a major hurricane. It's the third delay in the past month for the lunar-orbiting test flight featuring mannequins but no astronauts, a followup to NASA's Apollo moon-landing program of a half-century ago. Source
  • Ukrainian cities shelled as Russia pushes forward with Moscow-orchestrated vote

    World News CBC News
    Russian forces launched new strikes on Ukrainian cities as Kremlin-orchestrated votes took place in occupied regions of Ukraine to create a pretext for their annexation by Moscow. Ukraine's presidential office said the latest Russian shelling killed at least three people and wounded 19. Source
  • Port aux Basque under state of emergency as Fiona sweeps houses out to sea

    Canada News CTV News
    The town of Port aux Basque in Newfoundland and Labrador is under a state of emergency as first responders cope with electrical fires, residential flooding, and washoutsdue to post-tropical storm Fiona. According to the RCMP in the province, Fiona wreakedhavoc Saturdayon the small coastal townthat sits on the far,southwestern tip of Newfoundland. Source