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The original item was published from 5/7/2019 4:09:25 PM to 5/8/2020 12:00:01 AM.

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Lawrence News

Posted on: May 7, 2019

[ARCHIVED] Columbia Gas Settlement

gas-settlement

FINAL SETTLEMENT AND RELEASE OF ALL CLAIMS

$80,000,000.00: $57,162,500.00 is for Paving Restoration and $10,000,000.00 is for Claims. The remaining maximum balance of $12,837,500.00 (“Remaining Maximum Balance”) will be made available to the RELEASORS only upon and to the extent of submission, on or prior to the deadline of December 31, 2019, of substantiated losses directly caused by the Event.

Paving Restoration

  • The $57,162,500.00 for Paving Restoration will be broken down and distributed to the RELEASORS in separate checks as follows:
    • Lawrence: $31,910,000.00;
    • Andover: $13,965,000.00;
    • North Andover: $11,287,500.00.

Claims

  • The $10,000,000.00 for Claims will be broken down and distributed to the RELEASORS in separate checks as follows:
    • Lawrence: $5,000,000.00;
    • Andover: $3,000,000.00;
    • North Andover: $2,000,000.00.

Remaining Maximum Balance

  • The remaining maximum balance of $12,837,500.00 (“Remaining Maximum Balance”)
    • Lawrence of $6,418,750.00,
    • Andover of $3,851,250.00,
    • North Andover $2,567,500.00).

Read Settlement Document
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