$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

  • Journalist shot dead in Northern Ireland rioting

    World News CTV News
    LONDON -- The dissident republican group, the New IRA, was most likely responsible for the fatal shooting of a journalist during overnight rioting in the city of Londonderry, police in Northern Ireland said Friday. The Police Service of Northern Ireland said 29-year-old journalist and author Lyra McKee died after she was shot during rioting in the Creggan area. Source
  • ISS astronauts set for Easter feast thanks to arrival of private supply ship

    World News CBC News
    Canadian astronaut David Saint-Jacques and his colleagues at the International Space Station are now set for an Easter feast thanks to the arrival of a private cargo ship on Friday. American Anne McClain used the Canadarm2 to capture the Northrop Grumman Cygnus capsule as they soared 415 kilometres above France. Source
  • Journalist shot dead during Northern Ireland riot

    World News CBC News
    Police in Northern Ireland said Friday they believe the dissident republican group New IRA was probably responsible for the fatal shooting of a journalist during overnight rioting in the city of Londonderry, also known as Derry. Source
  • Macron meets officials, eyes Notre-Dame for legacy-building

    World News CBC News
    French President Emmanuel Macron is hosting officials from the United Nations' cultural agency, where he is expected to set out ideas for the reconstruction of Notre-Dame Cathedral. He will meet with state delegates from UNESCO, which oversees global heritage issues, in the Elysee Palace Friday. Source
  • Mueller's report is worse for Trump than Barr let on — but likely not as ruinous as Trump feared

    World News CBC News
    It was May 17, 2017, and U.S. President Donald Trump slumped in his chair in the Oval Office. "Oh my God. This is terrible," the president fumed, upon learning of Robert Mueller's appointment as special counsel to lead the investigation into Russian interference in the 2016 election. Source
  • Donations pour in from around the world to fix Notre-Dame

    World News CBC News
    In the offices of the French heritage foundation, near the banks of the Seine River just outside Paris, there's a buzz in the air. Not only is the mood unusually febrile, but cellphones are literally buzzing and landlines are ringing off the hook. Source
  • Canada hoping U.S. gets on board as it moves to update gender info on NEXUS cards

    World News CBC News
    Canada's border agency is about to shake up the way it tracks sex and gender information — which could lead to some awkward conversations with Washington. For the past two years, the federal government has been looking into how to introduce a third gender identifier across federal departments — something beyond checking off "male" or "female" on a form. Source
  • Flexible work — for everyone — is key to keeping women in the workforce, experts say

    Canada News CBC News
    Leigh Mitchell left a traditional office job in September 2017, after finding the culture and work structure incompatible with raising her two busy kids, then 13 and eight. With its tight deadlines and intense pressure to be physically present in the office, "I just didn't feel like the culture there was good for working moms," said Mitchell, who lives in Toronto. Source
  • Brain-injury device licensed by Health Canada was rejected by the FDA

    Canada News CBC News
    The U.S. Food and Drug Administration's refusal to license a therapeutic device intended to help brain-injured people is raising questions about the rigour of Health Canada's approval process. The FDA spent seven months reviewing the application, along with clinical evidence, before rejecting the licensing application for the Portable Neuromodulation Stimulator (PoNS), while Health Canada licensed the device in a month and no clinical information was submitted. Source
  • Kirkland Signature brand veggie burgers recalled

    Canada News CBC News
    A brand of veggie burgers — Kirkland Signature brand Harvest Burgers — are being recalled because of the possibility they contain pieces of metal. A release from the Canadian Food Inspection Agency says the Belmont Meat Products burgers were sold in B.C. Source