The Hawaii Supreme Court ruled that insurance companies cannot pursue separate legal actions against those responsible for the 2023 Maui wildfires, paving the way for a $4 billion settlement to proceed. This resolves a key hurdle that threatened to derail the deal between wildfire victims and various defendants, including Hawaiian Electric Company.
Hawaii's Supreme Court ruled Monday that insurance companies can't bring their own legal actions against those blamed for Maui's catastrophic 2023 wildfire, allowing a $4 billion settlement that was on the verge of collapse to proceed.Other steps remain in finalizing the deal between thousands of people who lodged lawsuits and various defendants, including Hawaiian Electric Company.The massive inferno that was the deadliest in the U.S.
Attorneys representing the individual plaintiffs agreed to the deal amid fears that main defendant Hawaiian Electric, the power company blamed for sparking the blaze, could be on the brink of bankruptcy.Victims' attorneys acknowledged that $4 billion wasn't enough to make up for what was lost but said the deal was worth accepting, given Hawaiian Electric's limited assets.
WILDFIRE SETTLEMENT INSURANCE LAWSUIT HAWAII
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