Hawaiian Electric, others agree to proposed $4 billion Maui wildfire deal, Bloomberg reports

[July 19, 2024]  (Reuters) - Hawaiian Electric Industries and other defendants in lawsuits over the Maui wildfires in Hawaii have tentatively agreed to pay more than $4 billion in settlement amount, Bloomberg News reported on Thursday, citing people familiar with the matter.  

Fire damage is shown in the Wahikuli Terrace neighborhood in the fire ravaged town of Lahaina on the island of Maui in Hawaii, U.S., August 15, 2023. REUTERS/Mike Blake/File Photo

The company and other defendants, including county officials, face multiple lawsuits over the blazes that destroyed thousands of properties and caused damages worth an estimated $5 billion.

The proposed deal would settle suits on behalf of thousands of homeowners and businesses against the utility.

Other defendants, in the proposed settlement, include a unit of Charter Communications and state and local governments, Bloomberg added.

Hawaii's Department of the Attorney General and Hawaiian Electric declined Reuters requests for comment on the mediation efforts, citing a confidentiality agreement.

Charter Communications also declined to comment, while the Office of Maui Mayor did not immediately respond.

(Reporting by Vallari Srivastava and Mrinalika Roy in Bengaluru; Editing by Mohammed Safi Shamsi)

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