Report tonight says World Fuel Services (NYSE: INT ) agreed to provide an estimated $110 Million to a compensation fund for victims of the 2013 Lac-Megantic, Quebec, oil train derailment as part of a settlement with the people trying to identify liability payment sources..
The report is that a subsidiary of INT sold the Bakken light crude oil that was on the train when it crashed and exploded, killing 47 people.
Canadian Pacific Railway, which transported the oil over some of the rail route but not over the track section where the train derailed has not yet settled with those parties seeking to put together a total compensation package say news reports,
The amount of funding found so far may still be about $200 million dollars short of the total liabilities identified in other news reports.
The public issue of how such catastrophic rail shipment risks are covered is still unresolved now almost at the two year date of this accident, And that may also be the public issue here in the United States if a multi billion accident occurred in a major US city.