Lac-Mégantic - Update re Distribution of Settlement Fund

Press Release
July 04, 2016

Lac-Mégantic - Update re Distribution of Settlement Fund

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June 30, 2016 – Montréal (Quebec) – Richter Advisory Group, Inc., the Monitor (the “Monitor”) in the CCAA case for Montreal, Maine & Atlantic Canada Co. (“MMA Canada”) provides
the following update regarding the distribution of the settlement fund established under the
court-approved plans of MMA Canada and Montreal Maine & Atlantic Railway, Ltd.

Wrongful Death Claims: The WD Trustee has confirmed that nearly all of the victims have received their indemnity payments in accordance with the court-approved plan. 

Bodily Injury and Moral Damage Claims: to date, 4,144 accepted claims have been paid 75% of their estimated dividend amount. The final payment can only be made after the Monitor has resolved all outstanding contestations filed by individual creditors. The Monitor continues to work with the attorneys for the creditors to try and resolve the contestations. A final dividend payment will likely not be made until later in 2016.

Property and Economic Damage Claims: the review and analysis of the approximately
1,600 claims is continuing. A distribution to this category is not likely until the fall of 2016.

A reminder that if your mailing address has changed it is important to notify the Monitor of your new mailing address.

Should you have specific questions regarding the status of your claim, please contact us by email at mmaclaims@richter.ca or by calling 1-866-845-8958.