Trustee: Checks for Lac Megantic victims in the new year

AP News
Posted: Dec 11, 2015 2:22 PM

PORTLAND, Maine (AP) — The U.S. bankruptcy trustee says a settlement fund for victims of an oil train disaster in Canada remains on track, and payments will be made next month.

Bob Keach says participants in the settlement fund are providing payments, and he expects it to be fully funded by Dec. 21.

He says money will be transferred to a Canadian monitor and a trustee for wrongful death claims by year's end.

The trust then will begin mailing checks to individuals next month.

The derailment of the runaway Montreal, Maine & Atlantic oil train claimed 47 lives and wiped out much of downtown Lac Megantic.

The settlement fund, worth $457 million in Canadian dollars, came about following negotiations with about two dozen companies. About $113 million will go to settle wrongful death claims.