Newspaper article The Canadian Press

$460-Million Settlement for Victims of Lac Megantic Disaster Fully Funded

Newspaper article The Canadian Press

$460-Million Settlement for Victims of Lac Megantic Disaster Fully Funded

Article excerpt

Lac-Megantic settlement fully funded

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MONTREAL - Officials responsible for bankruptcy proceedings related to the Lac-Megantic rail disaster say a $460-million settlement is fully funded and that cheques for the families of victims should start flowing in the new year.

About $114 million will be transferred this week to a trust for the holders of wrongful death claims.

Families will soon receive notice regarding upcoming distributions to be made to lawyers for the benefit of the families.

"We are very pleased that we will be able to fund the trust before the holidays and that distributions will reach the families as soon as possible next year," Robert Keach, the bankruptcy trustee for Montreal Maine & Atlantic Railway, Ltd., said in a statement Tuesday. …

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