LAWSUITS NEWS & LEGAL INFORMATION
$15 Million Settlement Awarded to Family of Plane Crash Victim
This is a settlement for the Wrongful Death lawsuit.
The family of Chicago restaurateur, Michael Waugh, has been awarded $15 million in the wrongful death suit they filed against Morgan Stanley and the estate of the pilot flying the plane that crashed and killed Waugh.
The suit alleged that Morgan Stanley had insufficient internal policies with respect to allowing non-professional pilots to fly private jets as shuttles for the company's customers.
The pilot flying the plane that crashed was a senior financial advisor at Morgan Stanley, and not a professional pilot. The National Transportation Safety Board investigation into the crash, which occurred on January 30, 2006 near Paulwaukee Municipal Airport in Illinois, found that the plane was not traveling at the correct speed as it approached the airport, which caused it to stall.
SEPT-09-09: Illinois judge OKs $15M settlement in plane crash case [BIZ JOURNALS: JUDGE OKS $15 MILLION SETTLEMENT]
Published on Sep-9-09
The pilot flying the plane that crashed was a senior financial advisor at Morgan Stanley, and not a professional pilot. The National Transportation Safety Board investigation into the crash, which occurred on January 30, 2006 near Paulwaukee Municipal Airport in Illinois, found that the plane was not traveling at the correct speed as it approached the airport, which caused it to stall.
SEPT-09-09: Illinois judge OKs $15M settlement in plane crash case [BIZ JOURNALS: JUDGE OKS $15 MILLION SETTLEMENT]
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