Dec. 22: Lac Megantic Settlement Is Fully Funded
The Lac Megantic rail disaster $460 million settlement is fully funded, so cheques for the families of victims should start being distributed in 2016. About 25 companies accused of responsibility in the tragedy agreed to pay into the fund for victims and creditors. Approximately $114 million was transferred to a trust for the holders of wrongful death claims. Distribution of another $317 million to the holders of personal injury, moral damage, and economic and property claims, as well as to the federal, provincial and local governments, will also proceed in the new year.