Landmark $4 billion global settlement reached in Maui wildfire lawsuits, bringing hope to victims after 1 year

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Landmark $4 billion global settlement reached in Maui wildfire lawsuits, bringing hope to victims after 1 year - Business Mirror

Quick Summary:

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 US wildfire in more than a century.

Thomas Leonard, who lost his Front Street condo in the fire and spent hours in the ocean behind a seawall hiding from the flames, welcomed the news.“It gives us something to work with,” he said.“I’m going to need that money to rebuild.

The state’s largest landowner, Kamehameha Schools, a charitable trust formerly known as the Bishop Estate, said it’s agreed to contribute a portion of the settlement assuming a final binding agreement is reached.