A U.S. bankruptcy judge has approved Pacific Gas and Electric Co.’s $59 billion reorganization plan, resolving a turbulent bankruptcy that started when the nation’s largest utility sparked a series of wildfires that killed more than 100 people, leveled entire California communities, and led it to plead guilty to over 80 separate counts of involuntary manslaughter. As reported by Reuters, the federal bankruptcy court granted final approval to a proposed Chapter 11 reorganization plan for PG&E that will cover damages related to its negligence in the deadly 2018 Northern California Camp Fire.
The utility said that it expects to emerge from bankruptcy in July 2020, at which point it will participate in a state-backed wildfire fund which requires it to spend billions of dollars in equipment upgrades.
PG&E filed for bankruptcy in January 2019 after its equipment was implicated in causing the devastating 2018 Northern California Camp wildfire. The Camp Fire in Butte County destroyed as many as 19,000 structures and almost completely leveled the town of Paradise.
Last week PG&E also pleaded guilty to 84 counts of involuntary manslaughter for its role in the fire. The guilty plea is part of an agreement with Butte County prosecutors intended to put a close to all criminal proceedings against the company.
Read the full article on Reuters site.
California Wildfire Injury & Loss Lawyers
Lieff Cabraser represents the family of Ernest Francis “Ernie” Foss, beloved father and musician, who was killed in the November 2018 Camp Fire. Lieff Cabraser also represents plaintiffs in a class action lawsuit as well as hundreds of individual suits filed against PG&E for the devastating property damage, economic losses, and disruption to homes, businesses, and livelihoods caused by the Camp wildfire.
If you would like to speak with a California wildfire lawyer at Lieff Cabraser, call us at 1 800 541-7358 or use the form on this page.
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