Victims of the Lac-Megantic oil-by-rail disaster that killed 47 people in the Canadian province of Quebec in 2013 agreed to a nearly $200 million settlement with some of the firms involved, including the insolvent rail operator at the center of the tragedy, Reuters reported on Saturday. Montreal Maine and Atlantic, along with its insurers, founder Edward Burkhardt, and various other companies, will pay into the settlement fund, which will be distributed to the victims of the train derailment and explosion, according to lawyer Peter Flowers of Meyers & Flowers. A draft plan of the arrangement was filed in the Quebec Superior Court on Friday as part of MMA's bankruptcy proceedings in Canada and a similar plan will also be filed in a U.S. court. The settlement is subject to approval by the courts.
