Judge rejects CP Rail challenge to Lac-Megantic settlement

Mon Jul 13, 2015 12:55pm EDT
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July 13 (Reuters) - A Quebec judge rejected Canadian Pacific Railway Ltd's challenge to a settlement for victims of the Lac-Megantic crude by rail disaster on Monday, clearing the way for compensation payments.

Parties named in a class action lawsuit, including closely-held Irving Oil, General Electric, Shell Oil Company, ConocoPhillips, Marathon Oil and others, have agreed to contribute to a C$431 million ($338.28 million) compensation fund.

($1 = 1.2741 Canadian dollars) (Reporting by Allison Lampert; Writing by Allison Martell)