Property owners in Danvers, Massachusetts, have approved the $6.6 million settlement offer by the co-owners of a paint factory that exploded in 2006, causing major damage to their neighborhood. The settlement, overwhelmingly approved at a meeting of members of a neighborhood trust, would pay $1.4 million to about 100 property owners and $5.2 million to insurance carriers, who have paid out more than $20 million in claims since the November 2006 blast. Jan Schlictmann, a lawyer from Boston, Massachusetts, represented the trust. You may recall Jan from his case which was made into a movie. If the proposal by factory co-owners CAI Inc. of Georgetown and Arnel Co. of Danvers also is approved by a probate court, a review panel will be established to divide the money. The pre-dawn blast registered 0.5 on the Richter scale and damaged 270 local homes and businesses. The blast was caused by a buildup of combustible gases that ignited. Amazingly, no one was killed or seriously injured, which is a miracle.
Source: Insurance Journal
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