Maui wildfire victims have reached a $4 billion settlement, according to court documents.
Liaison’s lawyers filed a motion saying the settlement would resolve all claims related to last year’s devastating Maui fires.
They are asking the judge to order that insurance companies cannot individually pursue defendants who received money from them. The Associated Press reported.
The federal Bureau of Alcohol, Tobacco, Firearms and Explosives is investigating a fire that broke out on Maui on Aug. 8, 2023, killing 102 people and destroying the historic tourist town of Lahaina.
The settlement came amid concerns that Hawaiian Electric, the power company blamed for causing the fires, could face bankruptcy.
Gilbert Keith Agaran, a lawyer representing the fire victims, said the settlement amount was “woefully inadequate” but that the plaintiffs should have taken into account the power company’s limited assets, according to the Associated Press.
More work needs to be done on how the total amount will be divided, but the agreement is a first step toward getting compensation for fire victims, Maui attorney Jake Lowenthal said.
“I’m under no illusions that this will bring Maui back to normal,” he told The Associated Press. “It’s true that it’s not going to make up for what they lost.”
Hawaiian Electric said in a statement that the funding will help restore the company’s financial stability, with payments expected to begin by mid-2024.
“This is an incredibly complex case, and the dedication and focus of so many stakeholders working to resolve it is a powerful example of how Hawaii comes together in times of crisis,” CEO Seely Kimura said in a statement.
Hawaii Gov. Josh Green (D) called the settlement historic in an online statement after hinting at the settlement earlier this week.
“This international settlement, worth more than $4 billion, will help our people recover. My number one priority as Governor has been to provide relief to those affected by the wildfires as quickly as possible.” He said. “To resolve such a problem within a year is unprecedented. It’s good that our people won’t have to wait long to rebuild their lives, unlike people in many places who suffered from similar strategies and had to wait a long time to rebuild their lives.”
Many lawsuits have been filed since the fires. One lawsuit claims the state’s power companies contributed to the devastating wildfires. A Hawaii couple claims a wildfire management organization released a plan in 2014 that highlighted Lahaina’s vulnerability.
The father of a woman who died in the fire has filed a lawsuit against Maui’s local government, power companies and large landowners, claiming they are responsible for the disaster.
