Maui Wildfire Victims to Receive Unprecedented $4bn Settlement
Historic Settlement Deal for the 2023 Maui Wildfires
Hawaii’s Governor, Josh Green, has announced a historic $4 billion (£3.1 billion) settlement deal addressing claims made by the victims of last year’s deadly Maui wildfires. This would serve to resolve nearly 450 legal cases opened by over two thousand people seeking compensation.
The devastating wildfires of August 2023 notoriously hold the grim title as the deadliest in modern US history, claiming the lives of more than 100 people and obliterating the historic town of Lahaina. The proposed settlement, worth $4.037 billion, as cited from a term sheet viewed by our team, purports to “fully resolve all Maui fires claims”.
The Defending Parties
The colossal settlement will be meted out by seven defendants, targeted by a barrage of lawsuits in the aftermath of the fires. These defendants include the State of Hawaii, the County of Maui, Hawaiian Electric, Kamehameha Schools, West Maui Land Co, Hawaiian Telcom, and Spectrum/Charter Communications.
Hawaiian Electric has publically confirmed its contribution towards the settlement, providing nearly half of the total amount—a staggering $2 billion. The lawsuits were launched by a myriad of plaintiffs, inclusive of individuals, businesses, and insurance companies spread across state and federal courts.
Pending Approval
While Governor Green has confirmed the proposal of the settlement, it remains an agreement in principle requiring final court and legislative approval. The agreement is conditioned upon the resolution of the insurance companies’ claims that have already been paid for property loss and other damages—expecting no additional payments from the defendants.
A Hopeful End for the Victims
The Governor emphasized that the deal will kick start a healing process, characterizing it as a priority to sidestep “protracted and painful” lawsuits, facilitating the commencement of the recovery process swiftly. “Settling a dispute of this gravity within a year is unprecedented. This means our people won’t have to wait to rebuild their lives as long as others have in many places that have suffered similar tragedies.”
Once the final settlement is decided, Hawaii’s state legislature will also need to approve it. Governor Green forecasts that the compensations are expected to commence by mid-2025.
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