Lawsuits In Canadian Pacific Train Derailment Stay

Stock quotes in this article: CP  

In the meantime, Hennepin County District Judge Tony Leung in Minneapolis — where Calgary, Alberta-based Canadian Pacific has its U.S. headquarters — has set aside time in January to hear remaining cases against the railroad.

Canadian Pacific attorney Tim Thornton said there are about 30 outstanding cases. He declined to say whether the railroad will try to settle them by the end of the year.

"We've settled a lot of cases," he said. "If they settle, they settle. If they don't, we'll try them."

CP Rail has not fared well in cases that have gone to court. A Minnesota state court jury in 2006 awarded four Minot derailment victims a total of nearly $1.9 million, before other claims stalled in the courts.

Should the Supreme Court delve into the matter and overturn the 8th Circuit ruling, the remaining cases would not be tried. Thornton said the railroad has settled some outstanding cases in the meantime because, "You never know what the courts are going to do."

"If you have the opportunity to make a good deal, you do it," he said.

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