PG&E Proposes Reorganization Plan With $17.9 Billion For Wildfire Claims

Tuesday, September 10th, 2019 Liability Property Subrogation

California power provider PG&E Corp on Monday unveiled the outlines of a reorganization plan that will pay $17.9 billion for claims stemming from the wildfires that pushed it to seek bankruptcy protection.

The plan filed in U.S. Bankruptcy Court in San Francisco includes payments capped at $8.4 billion for wildfire victims, payments capped at $8.5 billion for reimbursing insurers that had paid victims and a $1 billion settlement with local governments.

The plan also would pay PG&E’s debts in full and honor the company’s contracts, including ones for buying renewable energy to help California meet its goals for cutting greenhouse emissions.


External References & Further Reading
https://www.reuters.com/article/us-pg-e-us-bankruptcy-restructuring/pge-proposes-reorganization-plan-with-17-9-billion-for-wildfire-claims-idUSKCN1VU2GJ
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