PG&E Settles California Fire Claims With Local Governments For $1 bln

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Published on 19 Jun 2019, 0:39
According to Reuters, PG&E Corp will pay $1 billion as part of its bankruptcy reorganization to more than a dozen local governments in California struck by wildfires in recent years. Payments to the local governments will settle claims from lawsuits put on hold by PG&E’s bankruptcy and are separate from the thousands of other individual claims. PG&E will not be able to make settlement payments until it receives court approval for a Chapter 11 bankruptcy reorganization plan.
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