Skip to Content Facebook Feature Image

Parties in lawsuits seeking damages for Maui fires reach $4B global settlement, court filings say

News

Parties in lawsuits seeking damages for Maui fires reach $4B global settlement, court filings say
News

News

Parties in lawsuits seeking damages for Maui fires reach $4B global settlement, court filings say

2024-08-03 12:05 Last Updated At:12:11

HONOLULU (AP) — 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 U.S. wildfire in more than a century.

The term sheet with details of the settlement is not publicly available, but the liaison attorneys filed a motion saying the global settlement seeks to resolve all Maui fire claims for $4.037 billion. The motion asks the judge to order that insurers can’t separately go after the defendants to recoup money paid to policyholders.

More Images
FILE - Shelee Kimura, President and Chief Executive Officer of Hawaiian Electric, appears before the House Committee on Energy and Commerce on Capitol Hill, Sept. 28, 2023, in Washington. The parties in lawsuits seeking damages for last year's Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2, 2024, nearly one year after the deadliest U.S. wildfire in more than a century. (AP Photo/Mark Schiefelbein, File)

FILE - Shelee Kimura, President and Chief Executive Officer of Hawaiian Electric, appears before the House Committee on Energy and Commerce on Capitol Hill, Sept. 28, 2023, in Washington. The parties in lawsuits seeking damages for last year's Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2, 2024, nearly one year after the deadliest U.S. wildfire in more than a century. (AP Photo/Mark Schiefelbein, File)

FILE - Hawaii Gov. Josh Green speaks at the 2024 summer meeting of the National Governors Association on Thursday, July 11, 2024, in Salt Lake City. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. (AP Photo/Rick Bowmer, File)

FILE - Hawaii Gov. Josh Green speaks at the 2024 summer meeting of the National Governors Association on Thursday, July 11, 2024, in Salt Lake City. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. (AP Photo/Rick Bowmer, File)

FILE - Waiola Church and nearby Lahaina Hongwanji Mission are engulfed in flames along Wainee Street, Aug. 8, 2023, in Lahaina, Hawaii. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2, 2024. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. (Matthew Thayer/The Maui News via AP, File)

FILE - Waiola Church and nearby Lahaina Hongwanji Mission are engulfed in flames along Wainee Street, Aug. 8, 2023, in Lahaina, Hawaii. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2, 2024. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. (Matthew Thayer/The Maui News via AP, File)

A visitor walks by photos of victims of the August 2023 wildfire at a memorial near the Lahaina Bypass highway on Saturday, July 6, 2024, in Lahaina, Hawaii. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. The Aug. 8, 2023, wildfire burned thousands of homes and displaced 12,000 people.(AP Photo/Lindsey Wasson)

A visitor walks by photos of victims of the August 2023 wildfire at a memorial near the Lahaina Bypass highway on Saturday, July 6, 2024, in Lahaina, Hawaii. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. The Aug. 8, 2023, wildfire burned thousands of homes and displaced 12,000 people.(AP Photo/Lindsey Wasson)

FILE - A wasteland of burned out homes and obliterated communities is left on Aug. 10, 2023, in Lahaina, Hawaii, following the wildfire that devastated the area. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2, 2024. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. (AP Photo/Rick Bowmer, File)

FILE - A wasteland of burned out homes and obliterated communities is left on Aug. 10, 2023, in Lahaina, Hawaii, following the wildfire that devastated the area. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2, 2024. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. (AP Photo/Rick Bowmer, File)

Crews work to clean debris and repave roads, Saturday, July 6, 2024, in Lahaina, Hawaii. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. The Aug. 8, 2023, wildfire burned thousands of homes and displaced 12,000 people. (AP Photo/Lindsey Wasson)

Crews work to clean debris and repave roads, Saturday, July 6, 2024, in Lahaina, Hawaii. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. The Aug. 8, 2023, wildfire burned thousands of homes and displaced 12,000 people. (AP Photo/Lindsey Wasson)

FILE - A general view shows the aftermath of a wildfire in Lahaina, Hawaii, Aug. 17, 2023. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2, 2024. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. (AP Photo/Jae C. Hong, File)

FILE - A general view shows the aftermath of a wildfire in Lahaina, Hawaii, Aug. 17, 2023. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2, 2024. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. (AP Photo/Jae C. Hong, File)

The settlement was reached amid fears that Hawaiian Electric, the power company that some blame for sparking the blaze, could be on the brink of bankruptcy. The federal Bureau of Alcohol, Tobacco, Firearms and Explosives is investigating the Aug. 8, 2023 fires that killed 102 people and destroyed the historic downtown area of Lahaina.

Gilbert Keith-Agaran, a Maui attorney who represents victims, including families who lost relatives, said the amount was “woefully short.” But he said it was a deal plaintiffs needed to consider given Hawaiian Electric’s limited assets and potential bankruptcy.

The agreement was the first step toward getting fire victims compensation, said Jake Lowenthal, a Maui attorney selected as one of four liaisons for the coordination of the cases. More work needs to be done on how to divvy up the amount.

“We’re under no illusions that this is going to make Maui whole,” Lowenthal told The Associated Press. “We know for a fact that it’s not going to make up for what they lost.”

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.”

Hawaiian Electric said the settlement will help reestablish the company’s financial stability. Payments would begin after final approval and were expected no earlier than the middle of next year, it said.

“For the many affected parties to work with such commitment and focus to reach resolution in a uniquely complex case is a powerful demonstration of how Hawaii comes together in times of crisis,” CEO Sheelee Kimura said in a statement.

The seven defendants will pay the $4.037 billion to compensate those who already have brought claims, Hawaii Gov. Josh Green said. He called the proposed settlement an agreement in principle and said it would "help our people heal.”

“My priority as governor was to expedite the agreement and to avoid protracted and painful lawsuits so as many resources as possible would go to those affected by the wildfires as quickly as possible,” he said in a statement.

He said it was unprecedented to settle lawsuits like this in only one year.

“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,” Green said. On Wednesday, Green told the AP in an interview the settlement money would be important for Lahaina's recovery.

More than 600 lawsuits have been filed over the deaths and destruction caused by the fires, which burned thousands of homes and displaced 12,000 people. In the spring, a judge appointed mediators and ordered all parties to participate in settlement talks.

Defendant Maui County said the agreement represents a shared commitment between the parties to continue negotiating in good faith towards a larger, detailed resolution that would seek to equitably distribute the settlement money.

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.

Two other defendants, Hawaiian Telcom and West Maui Land Co., did not immediately respond to email messages or phone calls seeking comment.

Spectrum/Charter Communications declined to comment.

FILE - Shelee Kimura, President and Chief Executive Officer of Hawaiian Electric, appears before the House Committee on Energy and Commerce on Capitol Hill, Sept. 28, 2023, in Washington. The parties in lawsuits seeking damages for last year's Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2, 2024, nearly one year after the deadliest U.S. wildfire in more than a century. (AP Photo/Mark Schiefelbein, File)

FILE - Shelee Kimura, President and Chief Executive Officer of Hawaiian Electric, appears before the House Committee on Energy and Commerce on Capitol Hill, Sept. 28, 2023, in Washington. The parties in lawsuits seeking damages for last year's Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2, 2024, nearly one year after the deadliest U.S. wildfire in more than a century. (AP Photo/Mark Schiefelbein, File)

FILE - Hawaii Gov. Josh Green speaks at the 2024 summer meeting of the National Governors Association on Thursday, July 11, 2024, in Salt Lake City. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. (AP Photo/Rick Bowmer, File)

FILE - Hawaii Gov. Josh Green speaks at the 2024 summer meeting of the National Governors Association on Thursday, July 11, 2024, in Salt Lake City. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. (AP Photo/Rick Bowmer, File)

FILE - Waiola Church and nearby Lahaina Hongwanji Mission are engulfed in flames along Wainee Street, Aug. 8, 2023, in Lahaina, Hawaii. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2, 2024. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. (Matthew Thayer/The Maui News via AP, File)

FILE - Waiola Church and nearby Lahaina Hongwanji Mission are engulfed in flames along Wainee Street, Aug. 8, 2023, in Lahaina, Hawaii. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2, 2024. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. (Matthew Thayer/The Maui News via AP, File)

A visitor walks by photos of victims of the August 2023 wildfire at a memorial near the Lahaina Bypass highway on Saturday, July 6, 2024, in Lahaina, Hawaii. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. The Aug. 8, 2023, wildfire burned thousands of homes and displaced 12,000 people.(AP Photo/Lindsey Wasson)

A visitor walks by photos of victims of the August 2023 wildfire at a memorial near the Lahaina Bypass highway on Saturday, July 6, 2024, in Lahaina, Hawaii. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. The Aug. 8, 2023, wildfire burned thousands of homes and displaced 12,000 people.(AP Photo/Lindsey Wasson)

FILE - A wasteland of burned out homes and obliterated communities is left on Aug. 10, 2023, in Lahaina, Hawaii, following the wildfire that devastated the area. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2, 2024. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. (AP Photo/Rick Bowmer, File)

FILE - A wasteland of burned out homes and obliterated communities is left on Aug. 10, 2023, in Lahaina, Hawaii, following the wildfire that devastated the area. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2, 2024. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. (AP Photo/Rick Bowmer, File)

Crews work to clean debris and repave roads, Saturday, July 6, 2024, in Lahaina, Hawaii. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. The Aug. 8, 2023, wildfire burned thousands of homes and displaced 12,000 people. (AP Photo/Lindsey Wasson)

Crews work to clean debris and repave roads, Saturday, July 6, 2024, in Lahaina, Hawaii. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. The Aug. 8, 2023, wildfire burned thousands of homes and displaced 12,000 people. (AP Photo/Lindsey Wasson)

FILE - A general view shows the aftermath of a wildfire in Lahaina, Hawaii, Aug. 17, 2023. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2, 2024. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. (AP Photo/Jae C. Hong, File)

FILE - A general view shows the aftermath of a wildfire in Lahaina, Hawaii, Aug. 17, 2023. The parties in lawsuits seeking damages for last year’s Maui wildfires have reached a $4 billion global settlement, a court filing said Friday, Aug. 2, 2024. The agreement comes nearly one year after the deadliest U.S. wildfire in more than a century killed 102 people and destroyed the historic downtown area of Lahaina on Maui. (AP Photo/Jae C. Hong, File)

Next Article

Japan's exports hit record high, but trade deficit continues

2025-01-23 13:16 Last Updated At:13:21

TOKYO (AP) — Japan saw record-high exports last year, as its annual trade deficit declined 44% from the previous year, the Finance Ministry reported Thursday.

The trade deficit, which measures the value of exports minus imports, totaled 5.3 trillion yen ($34 billion), according to government data, as imports ballooned on the back of rising energy costs and growing inflation around the world.

Exports from the world’s third-largest economy totaled 107.9 trillion yen ($691 billion), surpassing the 100 trillion yen mark for the second-straight year, and the biggest value on record for comparable data, which dates back to 1979, the ministry said.

Some companies may have sped up their exports in anticipation of potential tariffs by U.S. President Donald Trump.

Trump has said he expects to put 25% tariffs on Canada and Mexico starting Feb. 1. During his campaign, he threatened to impose tariffs on imports from China, although details on that remain unclear.

For the month of December, exports gained a greater-than-expected 2.8% on-year, while imports rose 1.8%. Exports grew to Asian and European nations, while dipping slightly to the U.S.

Imports grew most from India, Hong Kong and Iran.

Demand was especially strong for Japan's vehicles, semiconductors and other machinery.

The weakening yen, another recent trend, has the effect of inflating the value of imports. The U.S. dollar has been hovering at 150-yen levels, sometimes surpassing 160 yen, over the past year, while a year ago it was often at 140-yen levels.

Japan has recorded a trade deficit for four straight years, but last year's deficit was considerably smaller than the 9.5 trillion yen deficit for 2023.

FILE - Cars for export are parked at a port in Yokohama, near Tokyo, on July 6, 2020. (AP Photo/Koji Sasahara, File)

FILE - Cars for export are parked at a port in Yokohama, near Tokyo, on July 6, 2020. (AP Photo/Koji Sasahara, File)

Recommended Articles
Hot · Posts