[January 09, 2015] |
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Meyers & Flowers Announces MMA Railway Settlement: $200 Million for Lac-Mégantic Train Derailment Disaster Victims
In accordance with a draft Plan of Compromise and Arrangement filed with
the Quebec Superior Court today in the CCAA case for Montreal Maine and
Atlantic Canada Co. (MMAC), nearly $200 million in settlement funds will
be distributed to the victims of the Lac-Mégantic, Quebec train
derailment disaster that occurred on July 6, 2013. According to the
trustee for Montreal Maine and Atlantic Canada Ltd. (MMA), MMAC's U.S.
parent company, a similar plan will soon be filed in the MMA chapter 11
case. In addition, the parties continue to pursue additional settlements
with parties who are not yet contributors, failing which litigation will
continue against those parties, with the goal of materially increasing
the settlement fund.
"We are pleased to finally reach a partial resolution and settlement for
the victims of the train derailment disaster," said Robert Keach, the
appointed trustee for the MMA bankruptcy case. "Due to the diligence and
respect by all parties associated with this pln in Canada and the
United States, we have put forward a favorable resolution. With
continued diligence by all parties, the settlement amount will be
significantly higher."
The settlement is subject to approval by the courts presiding over the
MMA and MMAC cases. Upon approval, the settlement funds will be split
and distributed to the following parties:
A. The Wrongful Death Claimants, including 48 deceased victims and their
families B. The Personal Injury and Moral Damages Claimants C.
Property and Economic Damages Claimants D. Insurer Claimants E.
Government Claimants
"Our litigation in Illinois played a dramatic role in increasing the
amount of funds that will be distributed to our clients who are the
families of the deceased victims of the Lac-Mégantic disaster," said
Peter Flowers, wrongful death plaintiffs lawyer of Meyers & Flowers Law
Firm in Chicago, who is working directly with Attorney Jason Webster, of
the Webster Law Firm in Houston. Flowers and Webster are representing
the plaintiffs who died in the train disaster and their families.
Attorney Mitchell Toups of Beaumont, Texas, is also involved in the
legal representation of the wrongful death victims.
"We have driven the value in the wrongful death estate higher than our
clients would have received under Canadian law," Flowers said. "But,
this is just the beginning of the settlements for our clients, as there
are three huge contributors to this disaster including World Fuel
Services, Canadian Pacific Railway and Irving Oil. And they are not yet
contributing a penny to this resolution. We will turn over every stone
on earth before we give up on them and intend on pursuing them in
Illinois and any other state to ensure that they are brought to justice
and held responsible for this disaster."
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