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Judge rejects CP Rail challenge to Lac-Megantic settlement

(Reuters) – A Quebec judge rejected Canadian Pacific Railway Ltd’s challenge to a settlement for victims of the Lac-Megantic crude by rail disaster on Monday, clearing the way for compensation payments. Parties named in a class action lawsuit, including closely-held Irving Oil, General Electric, Shell Oil Company, ConocoPhillips, Marathon Oil and others, have agreed to contribute to a C$431 million ($338.28 million) compensation fund. ($1 = 1.2741 Canadian dollars) (Reporting