Lac Megantic: Train disaster settlement provides very little

Lac Megantic: Train disaster settlement provides very little

The Benicia Independent       Repost from AP News, The Big Story
[Significant quote: “Lac-Megantic Mayor Colette Roy Laroche said over the weekend the estimated cost of rebuilding the town is about $2 billion.”  See also: repost from The Globe and Mail.  – RS]

 

Jan. 12, 2015

MONTREAL (AP) — The deputy mayor of a Quebec town where a fiery oil train derailment killed 47 people said Monday a proposed settlement fund for victims represents just a fraction of what’s needed.

A $200-million settlement was announced last week, with more than one-half of the money going to various levels of government. About $50 million is destined for relatives of the 47 people who died in the July 2013 disaster, although the amount could rise. The settlement involves the Montreal Maine and Atlantic Canada Co., its insurance carrier, rail-car manufacturers and some oil producers. Three major companies have declined to participate — World Fuel Services, Canadian Pacific Railway and Irving Oil.

Lac Megantic Deputy Mayor Richard Michaud said the families of the victims will share in the settlement money, which is “very little considering there are more than 20 orphans who must rebuild their lives.”

“Two hundred million can seem like a lot of money but in my opinion, it’s very little,” Michaud said. “Much more than $200 million has been injected by the federal and provincial government to decontaminate the devastated territory alone, and we’re not even talking about reconstruction.”.....    more here