Reported Friday, HEI And Hawaiian Electric To Pay $1.99B In $4B Maui Wildfire Settlement Awaiting Court Approval

Author: Benzinga Newsdesk | August 05, 2024 02:20am

HEI and Hawaiian Electric, the State of Hawaiʻi, the County of Maui, Kamehameha Schools, West Maui Land Co., Hawaiian Telcom and Spectrum/Charter Communications have agreed on the terms of a proposed settlement with the lead attorneys for individual and class plaintiffs. Under the proposed terms, which remain subject to final documentation and court approval and do not include any admission of liability, the defendants would collectively pay over $4 billion to resolve all tort claims arising from the Aug. 8, 2023 wildfires on Maui. The settlement also would resolve all claims among the defendants. HEI and Hawaiian Electric's contribution is a total of $1.99 billion (pre-tax) and includes the $75 million previously contributed for the One ʻOhana Initiative, to be paid in four installments.

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