Arconic Paid Shareholders More Compensation Than Grenfell Fire Victims, Report Finds
A new report by the think tank Common Wealth and financial investigations group FIND reveals that Arconic, the company that supplied the flammable cladding for Grenfell Tower, paid significantly more in compensation to its shareholders than to the victims and survivors of the 2017 fire. Arconic paid $74 million (£54.7 million) to shareholders for economic losses incurred after the blaze, while only $43 million (£31.8 million) was paid to the estates of the fire's victims and survivors following a protracted legal battle. The report highlights that nearly all of these payouts, except for $2 million, were covered by Arconic's insurers. The Grenfell Tower fire, which occurred in June 2017, resulted in the deaths of 72 people, including 18 children. The inquiry into the fire concluded that Arconic "deliberately and dishonestly concealed from the market" the true danger of its Reynobond PE aluminum composite material (ACM) used on the tower. Despite these findings, Arconic has consistently denied wrongdoing, an... 
