PG&E Corp. said it survived attempts to rally wildfire victims against a $13.5 billion settlement offer, positioning the bankrupt utility favorably to exit chapter 11 on its preferred terms. Opponents of PG&E’s bankruptcy exit strategy had spent weeks laying out their concerns, with a particular focus on personal-injury lawyer Mikal Watts, whose firm counts 16,000… Continue reading PG&E Says Wildfire Victims Voted for $13.5B Settlement Offer
Tag: PG&E settlement
Proposed Settlement Would Make California Fire Victims PG&E’s Biggest Shareholders
PG&E Corp. proposes to pay half of its $13.5 billion settlement with California wildfire victims in company shares, a move that would make victims the utility’s largest shareholders—and jeopardize payments if PG&E sparks future fires. As part of its plan to exit bankruptcy, PG&E would pay fire-victim claims through a trust funded with equal parts… Continue reading Proposed Settlement Would Make California Fire Victims PG&E’s Biggest Shareholders