Lac Mégantic defence lawyers get $9 million upfront

Lac Mégantic defence lawyers get $9 million upfront

Quebec City (Quebec) 30 December 2014 – The lawyers involved in the defence of the railway company (MMA) that was involved in the Lac Mégantic tragedy over a year ago have been paid $4 million recently for their time and effort involved in defending and finalising the bankruptcy claim for the Montreal, Maine and Atlantic company.

Another $4.5 million has yet to be paid to other American lawyers who are involved in the lawsuits and claims since the accident.

The victims of the tragedy however have yet to be paid a penny and have to wait until the court cases are finalised. According to the lawyer for the victims, Hans Mercier, it is not surprising that the lawyers be paid before everyone else. They are paid by their billing and those bills must be paid before anything else.

The contractors that were in charge of decontaminating the area and who cleaned up the debris have also been paid which upsets the victims even more as they are still waiting to be financially reimbursed for their losses.

Me. Mercier hopes that the victims will be paid sometime near the end of the summer or early fall of this year, more than two years after the tragedy.

The class action suit should be able to recuperate somewhere between $125 and $162 million if all goes well but, the lawyer is hoping for more.

Most of the buildings destroyed were commercial real estate and each case has its own value making the distribution of the settlement rather complex and time consuming.

There is also the problem of who pays for what as different insurance companies and other separate parties are involved.

In the meantime the victims have had to arrange their costs of living on borrowed money.

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