A settlement has been reached on behalf of victims of a 2003 fire in a downtown Chicago office building. The $100 million to be paid under the terms of the settlement includes $50 million from the City of Chicago, $24 million from building management, and $9 million from Cook County, which owned the building. The lawsuit, which was brought by 22 victims, had been set to go to trial. The judge who would have presided over the trial of the case in the Circuit Court of Cook County, Illinois, has approved the settlement.

As you may recall, six people were killed and many others injured in the October 2003 blaze. Under the settlement, the City of Chicago will pay $15 million from its self-insurance program and the remaining $35 million will be covered by the following four private insurance companies: AIG, Lexington Insurance, Clarendon America Insurance Co. and Westchester Insurance. There were actually 21 separate lawsuits filed against the city.

Source: Reuters

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