$4 billion agreement seeks to resolve all claims from blaze
August 4, 2024 at 4:00 a.m.
by
AUDREY McAVOYand JENNIFER SINCO KELLEHER The Associated Press
FILE - Waiola Church and nearby Lahaina Hongwanji Mission are engulfed in flames along Wainee Street, Aug. 8, 2023, in Lahaina, Hawaii. The parties in lawsuits seeking damages for last year's Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2, 2024. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. (Matthew Thayer/The Maui News via AP, File)
HONOLULU -- The parties in lawsuits seeking damages for last year's Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, nearly one year after the deadliest U.S. wildfire in more than a century.
The term sheet with details of the settlement is not publicly available, but the liaison attorneys filed a motion saying the global settlement seeks to resolve all Maui fire claims for $4.037 billion. The motion asks the judge to order that insurers can't separately go after the defendants to recoup money paid to policyholders.
The settlement was reached amid fears that Hawaiian Electric, the power company that some blame for sparking the blaze, could be on the brink of bankruptcy. The federal Bureau of Alcohol, Tobacco, Firearms and Explosives is investigating the Aug.
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