Mid-America Sound Corporation couldn’t reach an agreement to settle the case. Mid-America was offering up its full insurance policy of $7.2 million, with the state of Indiana contributing $6 million that legislators decided would go to victims.
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The company released a statement about the failed negotiations.
“Mid-America Sound Corporation is hopeful that future efforts seeking to resolve the claims associated with the tragic events of August 13, 2011 are successful to bring full and satisfactory resolution to the claims now pending,” the company said.
Attorney General Greg Zoeller said the state will now go ahead and release its money.
“Because State Fair victims said they needed financial assistance sooner rather than later, my office made an effort to facilitate a private settlement to increase the relief available,” Zoeller said. “It was worthwhile to try to bring the claimants and defendant companies together, but since the parties did not reach an agreement, we will move to distribute the original $6 million the legislature appropriated, well before the January 2013 deadline, and we will continue to look for opportunities to serve the victims.”
Zoeller added, “I`ll admit to some disappointment in (the) news, but I believe the effort was nonetheless worthwhile.”
It was in the state’s best interest to work with Mid-America on the settlement, which was also an attempt to keep the company from suing. Zoeller said the state would continue to fight Mid-America in court.
The other defendant company, James Thomas Engineering Inc., did not have any indemnification claims and is not suing the state. It also agreed to participate in the conditional settlement offer.
A three-member arbitration panel already has started reviewing the claims victims submitted to determine how much they’ll receive from the $6 million settlement. Estates of fatality victims will see their amounts increased from $300,000 the state paid last year to $700,000 each.
Claimants with non-permanent physical injuries will be reimbursed for 100 percent of their out-of-pocket medical costs, after insurance, and taking into consideration the 65-percent payments made in December.
The Attorney General’s Office will have additional information for eligible claimants and their attorneys by the end of the week.