Lawyers for victims of a Rhode Island nightclub fire that killed 100 people have asked a judge to approve a trust fund that will pay out $176 million in settlement proceeds.
The request was made in court papers filed Wednesday. Lawyers also discussed details of the trust at a court hearing.
The fund’s trustees would be Citizens Bank, where defendants would deposit their share of the settlement money, and Massachusetts-based mediator Paul Finn.
The Feb. 20, 2003, fire at The Station nightclub in West Warwick began when pyrotechnics used by the rock band Great White set ablaze soundproofing foam around the stage.
Dozens of people and companies sued after the fire agreed to offer $176 million, though no money has been paid yet.
Was this article valuable?
Here are more articles you may enjoy.
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears 
AIG’s Zaffino: Outcomes From AI Use Went From ‘Aspirational’ to ‘Beyond Expectations’ 
CFC Owners Said to Tap Banks for Sale, IPO of £5 Billion Insurer 
World’s Growing Civil Unrest Has an Insurance Sting 
