Residents Approve $6.6M Settlement Over Mass. Paint Factory Explosion

August 28, 2008

Property owners in Danvers, Mass., have approved a $6.6 million settlement offer by the co-owners of a paint factory that exploded in 2006 and caused major damage to their neighborhood.

The deal, overwhelmingly approved at a meeting of members of a neighborhood trust, would pay $1.4 million to about 100 property owners and $5.2 million to insurance carriers, who have paid out more than $20 million in claims since the November 2006 blast.

Jan Schlictmann, attorney for the trust, said more than 100 people attended the meeting.

If the proposal by factory co-owners CAI Inc. of Georgetown and Arnel Co. of Danvers also is approved by a probate court, a review panel would be established to divide the money.

The pre-dawn blast registered 0.5 on the Richter scale and damaged 270 local homes and businesses.

Amazingly, no one was killed or seriously injured.

Was this article valuable?

Here are more articles you may enjoy.