Los Angeles, Aug 3 (IANS): Hawaii Governor Josh Green announced a settlement totalling over $4 billion to resolve hundreds of lawsuits filed after last year's deadly wildfires which claimed over 100 lives on the Hawaiian island of Maui.

"Less than a year after devastating wildfires on Maui, the seven defendants -- state of Hawaii, County of Maui, Hawaiian Electric, Kamehameha Schools, West Maui Land Co., Hawaiian Telcom and Spectrum/Charter Communications -- undertook significant efforts to find a resolution that addresses the needs and ensures the well-being of plaintiffs, all affected individuals, and their families," said Green in a statement.

Under the proposed terms of the global settlement agreement, which remains subject to final documentation and court approval, the seven defendants will pay 4.037 billion dollars to provide compensation to all those who have brought claims for compensation arising from the August 8, 2023 windstorms and wildfires on Maui, including the approximately 2,200 affected parties who filed lawsuits, according to the statement.

The settlement agreement, reached after more than four months of mediation between the defendants and attorneys, resolves the approximately 450 lawsuits filed by individuals, businesses, and insurance companies in state and federal courts for fires in Lahaina and Upcountry Maui.

Once a final settlement agreement is signed, it will take effect following judicial review and approval. The contribution to the settlement from the state of Hawaii must be approved by the Hawaii State Legislature, the statement added.

The statement pointed out that the payments would begin after such approval and are expected to start by mid-2025.

The wildfires, which broke out on August 8 last year, had a catastrophic impact, claiming 102 lives, and injuring numerous people. The fires destroyed more than 2,200 buildings and caused about 5.5 billion dollars in damages, according to data released by the US government.