PORTLAND, Maine — The compensation fund for victims of the fiery oil train derailment that claimed 47 lives in Lac-Megantic, Que., has grown to $345 million with a contribution from the company that owned the shipment.
Officials said World Fuel Services Corp. agreed to contribute $110 million.
Much of downtown Lac Megantic was destroyed after the unattended Montreal, Maine & Atlantic train with 72 oil tankers derailed July 6, 2013.
U.S. bankruptcy trustee Robert Keach and his Canadian counterpart said Monday that the settlement is the result of months of “difficult and complex negotiations among numerous stakeholders.”
Keach said the only party with potential liability that has declined to participate in the settlement fund is Canadian Pacific Railway, which transported the oil to Montreal, where it handed off the train to Montreal, Maine & Atlantic Railway before the derailment.
A spokesperson for CP said the company believes the victims of the derailment deserve compensation, but it’s not responsible for what happened.
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