Insurance
Apr. 7, 2020
Group of wildfire victims no longer supports PG&E deal
Calling out PG&E’s refusal to guarantee the $6.5 billion in stock it agreed to pay as part of the larger settlement will actually be worth that amount, lawyers representing the group want to instruct victims to delay voting on the utility’s proposal to emerge from bankruptcy until they have a chance to rework the deal.
The committee representing wildfire victims in the Pacific Gas & Electric Corp.'s bankruptcy indicated in a Monday court filing it no longer supports the $13.5 billion settlement with the utility, a major complication that threatens to derail the company's desired exit plan.
Arguing PG&E's refusal to guarantee the $6.5 billion in stock it agreed to pay as part of the larger settlement will actually be worth that amount, lawyers rep...
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