Tag

Compensation Fund

All articles tagged with #compensation fund

disaster-relief1 year ago

Maui Wildfire Victims' Families Eligible for $1.5 Million Payout

Families who lost loved ones in Hawaii's deadliest wildfire could receive up to $1.5 million each from a victims' compensation fund if they agree not to pursue litigation, as announced by Gov. Josh Green. The fund, now at $175 million, will open to applicants on March 1 and is voluntary, available only to those who agree not to sue the fund's participants. The lack of stable housing for displaced residents has been a major source of anxiety, with efforts underway to provide long-term housing and mental health counseling. Additionally, a preliminary after-action report by the Maui County Police Department made 32 recommendations for improvement in response to the fire.

compensation-fund-announcement1 year ago

Lahaina Families Eligible for $1.5M Compensation

Governor Josh Green announced a $175 million compensation fund for families who lost loved ones in the Lahaina wildfires, with each eligible family set to receive $1.5 million starting from March 1. The fund, modeled after the 9/11 compensation fund, may also compensate those who lost land, with recipients agreeing not to pursue lawsuits against fund participants. Additionally, FEMA officials provided an update on efforts to rebuild King Kamehameha School, while the announcement coincides with the six-month anniversary of the Maui wildfires that claimed at least 100 lives and left thousands of survivors without permanent housing.

financial-crime2 years ago

Madoff Victims Receive $158M in Additional Compensation, Totaling $4.22B: Government Reports

The compensation fund for victims of Bernie Madoff's $65 billion Ponzi scheme has paid out an additional $158 million, bringing the total amount distributed to $4.22 billion. The fund, established a decade ago, has made its ninth installment to nearly 25,000 victims worldwide, helping them recoup 91% of their losses. The fund aims to make a final payout by the end of 2024. Madoff, who pleaded guilty to 11 financial crimes in 2009, died in prison in 2021.

disaster-relief2 years ago

"Hawaii Governor Establishes $150M Fund for Lahaina Fire Victims and Families"

Hawaii Governor Josh Green has announced the creation of a $150 million fund to assist those affected by the wildfires in Maui, including families who lost loved ones or were injured. Beneficiaries will receive payments of over $1 million starting from April to June next year, with the condition that they waive their right to file legal claims. The fund aims to provide swift financial assistance and support the rebuilding of Lahaina in a way that reflects Hawaii's values and traditions. Initial funding is being provided by the state, Maui County, Hawaiian Electric, and Kamehameha Schools, with more partners expected to join. The fund is modeled after the September 11th Victim Compensation Fund.

sports2 years ago

Saudi investors create compensation fund for PGA Tour loyalists who rejected LIV Golf's millions.

Saudi Arabia's Public Investment Fund, which recently merged with the PGA Tour, is reportedly creating a compensation fund to reward PGA Tour players who turned down lucrative offers from LIV Golf. The plan will allow players like Tiger Woods and Rory McIlroy to receive some of the money they missed out on by not joining the breakaway tour. The future of LIV Golf is in doubt, with sources claiming it will be phased out by the end of the year to make room for one all-consuming tour. PGA Tour commissioner Jay Monahan is temporarily stepping back from his duties due to an unspecified medical situation.

society2 years ago

Boy Scouts to pay $2.4 billion to sexual abuse survivors after emerging from bankruptcy.

The Boy Scouts of America will establish a $2.4 billion fund for about 82,500 people who were victims of sexual abuse as it emerges out of Chapter 11 bankruptcy. The organization will also implement new measures to support survivors and prevent abuse in the future, such as background checks for all staff and volunteers, mandatory youth training, and a ban on one-on-one interactions with children. A survivor will also have a seat on the organization's board, and any allegation of abuse must be reported to law enforcement. The Boy Scouts sought bankruptcy protection in February 2020 to create a compensation fund for thousands of men who were molested as youngsters by scoutmasters or other leaders.