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Deal reached: How will the $4B Lahaina Global Settlement be split for fire victims?

HONOLULU (KHON2) — Attorneys for Lahaina wildfire victims came to a 'last minute' agreement on how to split the more than $4 billion Global Settlement. The deal was finalized late Tuesday, Jan. 28, a day before opening statements in that trial were scheduled to start. Download the free KHON2 app for iOS or Android to stay informed on the latest news The Global Settlement between victims of the Lahaina wildfire and the seven defendants is $4.037 billion and we'll soon know how much each victim's share will be. 'Overall, we think it was a realistic and reasonable outcome, and it's going to just be a critical step to getting money into the hands of victims sooner than later,' said Jacob Lowenthal, victims' attorney. How Hawaiian Islands are prepping for severe storm weather Terms of the deal will be detailed in court documents, which are expected to be filed in about a week. This settlement is between attorneys for individual victims and attorneys representing any and all class action lawsuits. Reaching a deal means victims don't have to testify in court. 'There'll be folks that will potentially be disappointed that they didn't have an opportunity to share their story in live court,' said Lowenthal. 'I'm sure there's gonna be some folks that are maybe relieved that they don't have to go to court to share their story and potentially be re-traumatized all over again.' Attorneys said this agreement is a huge step in finalizing the Global Settlement but it's not the last step. Next week, the State Supreme Court is scheduled to hear arguments on whether the insurance companies are allowed to file subrogation claims against the defendants to get reimbursed for the $2 billion-plus in claims they already paid out.'We're looking forward to the next week with the Hawaii Supreme Court because it's just one critical step to finalizing the settlement agreement to getting money in the hands of our clients, who obviously very much need it,' said Lowenthal. Attorneys for insurance companies maintain they're not against the Global Settlement. But they are against any deal that removes their right to subrogation. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.