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Was Greens offer a low ball one? (Read 1007 times)

changemyoil66

Was Greens offer a low ball one?
« on: August 06, 2024, 09:47:00 AM »
https://www.nbcnews.com/news/us-news/4-billion-settlement-reached-mauis-deadly-destructive-wildfires-rcna162751?fbclid=IwY2xjawEfXDBleHRuA2FlbQIxMAABHUwv3NL8fFkv0UgHqptqeRY5shAu3pQq8SmsRJEyfeKWHT8fWsFNkQn9xg_aem_uO7nf3SFcOWIBafW2XcFIQ

It sounds like Greens offer of $1million is looking like a low ball one, even after any atty's fees.

I'm sure he had to get advice from the corrupt AG's office as how much can we give and the victims will take it, but not too much as to come out the same as a lawsuit.
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ren

Re: Was Greens offer a low ball one?
« Reply #1 on: August 06, 2024, 10:49:16 AM »
https://www.hawaiifreepress.com/Articles-Main/ID/41361/FAKE-Green-Announces-4B-Lahaina-Settlement--Without-Insurers-Agreement

https://www.civilbeat.org/2024/08/hawaii-maui-county-heco-and-others-agree-to-pay-4-billion-to-wildfire-victims/?utm_source=Civil+Beat+Master+List&utm_campaign=3f0e2efffe-EMAIL_CAMPAIGN_2024_02_27_10_52_COPY_01&utm_medium=email&utm_term=0_-da72b62cde-%5BLIST_EMAIL_ID%5D&mc_cid=3f0e2efffe&mc_eid=cf58b6e405

A major outstanding question involves what happens to lawsuits brought by insurers who have paid out billions of dollars in claims.

According to the Hawaii Insurance Division, claims paid as of June 30 totaled $2.34 billion including $1.37 billion for property damage. Insurers have filed several so-called subrogation lawsuits seeking reimbursement from the defendants for these claims.

These insurers did not sign on to the settlement term sheet. And if they were given a priority for payments from the settlement fund, it would mean significantly less money for fire victims.

Plaintiffs have argued that Hawaii law calls for fire victims to be made whole before the insurance companies can be reimbursed.

The term sheet essentially creates a 90-day deadline for one of two things to occur: either the insurers settle the subrogation claims or a court determines that, in the event of a final settlement, the insurers’ recovery would come from policyholders who received settlement payments — and not from the defendants.

Creed said insurers “did not agree to this global settlement and are trying to take money back from the victims who paid their premiums and send it off-island to pad their profits. The insurance companies shouldn’t take a penny as long as the victims are not fully compensated.”
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Deeds Not Words

changemyoil66

Re: Was Greens offer a low ball one?
« Reply #2 on: August 06, 2024, 02:38:32 PM »
Sounds like if comrade green is trying to rush things, it will screw people.  As in, don't trust him if it sounds like he's doing the "right thing".
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changemyoil66

Re: Was Greens offer a low ball one?
« Reply #3 on: August 13, 2024, 08:02:28 PM »
Judge ruled insurance companies have no say in the settlement.

So they cannot subrogate to HECo or other parties.

Sent from my SM-G991U using Tapatalk

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