The PG&E Fire Victim Trust announced today that it has been funded effective today. The Trust received the Fire Victim Trust settlement proceeds from PG&E which includes 476,995,175 shares of PG&E Common Stock and the first installment of cash funding of $5.385 billion ($5.4 billion reduced by previous court-ordered advances of $15 million) in accordance
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 The San Francisco Chronicle, facing blowback, PG&E has announced that it no longer intends to pay the criminal fines and expenses related to its negligence in the 2018 deadly Camp Fire with the funds from a trust intended to compensate victims.
Second set of criminal convictions in just five years places PG&E among the most criminally-convicted companies in US history As reported by The San Francisco Chronicle, Pacific Gas and Electricity Co. (PG&E) has agreed to plead guilty to 85 felony counts for its role in the 2018 Camp Fire, California’s deadliest and most destructive wildfire
Victims Must File Claims Before December 31, 2019 Court Deadline San Francisco, CA, December 6, 2019 — The Official Tort Claimants Committee (“TCC”), representing fire victims and other tort claimants in Pacific Gas & Electric’s (“PG&E”) bankruptcy reorganization, announce an agreement with PG&E to provide $13.5 billion in compensation for the fire victims and other
The California Department of Forestry and Fire Protection (CAL FIRE) has issued a news release stating that “a very meticulous and thorough investigation” has determined that the November 2018 Camp Fire in Butte County “was caused by electrical transmission lines owned and operated by Pacific Gas and Electricity (PG&E) located in the Pulga area.” The