Categories: General News

Hawaiian Electric Settles Historic $4 Billion Lawsuit for Devastating Maui Wildfire Near Disaster Anniversary

Maui Wildfire Lawsuit Hindu Ends in Historic $4 Billion Settlement

Unprecedented Resolution Near Disaster Anniversary

Less than a year after a devastating wildfire took 102 lives and obliterated the historic Lahaina town in Maui, Hawaii’s largest utility company, Hawaiian Electric, has conceded to pay the largest tranche of a legal settlement totaling slightly over $4 billion.

This colossal settlement is geared toward compensating over 10,000 distinct plaintiffs, encompassing homeowners, businesses, and various others impacted directly by the tragedy. The proposed resolution was tabled just days before the unfortunate event’s anniversary.

Settlement Averted Prolonged Lawsuits

In a bid to swiftly compensate those affected by the fire and sidestep the possibility of prolonged negotiations that could span years without payment, multiple entities involved in the disaster embarked on court-ordered mediation. This included the state entity, Maui County, large-scale private landholders, and other involved utility companies.

Overshadowing the colossal loss, Governor Josh Green has been instrumental in steering conversations towards a single global agreement among all parties involved in the lawsuit. In his efforts to avert a potentially devastating blow to Maui County’s finances and the bankruptcy of Hawaiian Electric, Governor Green commented, “Settling a matter like this within a year is unprecedented and it will be good that our people don’t have to wait to rebuild their lives as long as others have in many places that have suffered similar tragedies.”

Terms of Settlement

The tentative terms of the agreement stipulate that Hawaiian Electric will bear just under half of the total $4.037 billion settlement, equivalent to $1.99 billion. Even though this amount remains substantial, it is considerably lower than the expected $4.9 billion liability cited last year by investment research firm Capstone. This estimation had raised alarming concerns of likely bankruptcy for the utility company.

Of significance in this agreement is that it does not indicate any acceptance of liability by the involved parties.

Settlement Less Than Overall Cost of the Disaster

Notably, the announced $4 billion settlement will not cover the full cost of the disaster, which is estimated to be near $12 billion. The intense wildfire blazed through one of the most breathtaking destinations globally, damaging or even annihilating more than 3,000 homes and other structures. Furthermore, thousands of residents were killed, injured, or left homeless.


Author: HERE Greenville

HERE Greenville

Recent Posts

Greenville-Anderson Real Estate Market Recognized as Top Hot Spot for 2025

News Summary The Greenville-Anderson real estate market has garnered national attention, being named one of…

1 hour ago

Weekend Thrills Await in Upstate South Carolina

News Summary Upstate South Carolina is set for an action-packed weekend filled with concerts, sports,…

2 hours ago

Art Exhibit ‘Nature Deconstructed’ Opens in Greenville

News Summary Spoonbill Gallery in Greenville is set to unveil a new exhibit titled 'Nature…

2 hours ago

Supreme Court to Hear Case on South Carolina’s Medicaid Funding Cuts to Planned Parenthood

Supreme Court to Review South Carolina's Medicaid Funding for Planned Parenthood Washington – The Supreme…

14 hours ago

Appalachian State Aims to Overcome Road Struggles Against Dominant Charleston Cougars

Charleston, South Carolina – A Clash of College Basketball Teams In a thrilling college basketball…

16 hours ago