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|    RAILFAN    |    Trains, model railroading hobby    |    3,261 messages    |
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|    Message 1,913 of 3,261    |
|    Leroy N. Soetoro to All    |
|    Judge gives final approval for $338-mill    |
|    18 Oct 15 20:43:30    |
      From: leroysoetoro@usurper.org              XPost: alt.railroad, sci.geo.petroleum, sac.politics       XPost: alt.fan.rush-limbaugh, alt.politics.economics, can.politics              http://www.latimes.com/nation/la-na-judge-final-approval-for-338m-oil-       train-settlement-20151009-story.html              U.S. bankruptcy judge on Friday approved a $338-million settlement fund       for victims of the fiery 2013 oil train derailment that claimed 47 lives       in Quebec.              Judge Peter Cary announced his decision after Canadian Pacific dropped its       objection to the settlement plan moving forward and a Canadian judge gave       conditional approval.              Barring any surprises, payments could be made to victims of the disaster       by year's end, said Robert Keach, the bankruptcy trustee. About $83       million is being set aside to settle wrongful death claims.              "We're very happy for the victims that we were able to get to this point.       They're the primary focus here," Keach said.              A runaway train with 72 oil tankers derailed on July 6, 2013, in Lac       Megantic, Quebec, setting off powerful explosions and causing fires that       wiped out much of downtown.              The disaster led to greater regulatory scrutiny of the use of trains to       transport crude oil amid a production surge thanks to new technologies       including hydraulic fracturing.              After the fires were doused, the train's operator, Montreal, Maine &       Atlantic, filed for bankruptcy, and the settlement fund is tied to those       bankruptcy proceedings in the U.S. and Canada. The fund, worth $446       million in Canadian dollars, was the product of negotiations with about       two dozen companies with potential liability.              Canadian Pacific owned the track where the crude oil shipment originated       and contended it bore no responsibility because the train that derailed       had a Montreal, Maine & Atlantic locomotive and crew and was operating on       MMA rail.              But Keach argued Canadian Pacific bears some responsibility for failing to       properly classify the Bakken region crude oil, which was as volatile as       gasoline.              Canadian Pacific isn't contributing to the settlement fund, and the       railroad had contended the plan would have hampered its ability to defend       itself from lawsuits because the agreement provided legal immunity only to       companies that do contribute.              But the altered amendment calls for a "judgment reduction provision" that       would take into account the full settlement paid by others if Canadian       Pacific is ordered to pay damages in the future.              "Although CP was not at fault in the derailment, we have been working with       the trustee for a solution that protects CP interests and allows payments       to be made to victims as soon as possible," Canadian Pacific spokesman       Martin Cej said.                            --       Obama increased total debt from $10 trillion to $19 trillion in the six       years he has been in office, and sold out heterosexuals for Hollywood       queer liberal democrat donors.              Barack Obama, reelected by the dumbest voters in the history of the United       States of America. The only American president to deliberately import a       lethal infectious disease from Africa, Ebola.              Loretta Fuddy, killed after she "verified" Obama's phony birth       certificate.              Nancy Pelosi, Democrat criminal, accessory before and after the fact to       improper vetting of Barry Soetoro aka Barack Hussein Obama, a confirmed       felon using SSAN 042-68-4425, belonging to a dead man.              Obama ignored the brutal killing of an American diplomat in Benghazi, then       relieved American military officers who attempted to prevent said murder       in order to cover up his own ineptitude.              Obama continues his muslim goal of disarming America while ObamaCare       increases insurance premiums 300% and leaves millions without health care.              --- news://freenews.netfront.net/ - complaints: news@netfront.net ---              --- SoupGate/W32 v1.03        * Origin: LiveWire BBS -=*=- UseNet FTN Gateway (1:2320/1)    |
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