Home » Headlines » Fires » Judge Approves PG&E’s $58 Billion Bankruptcy Settlement Plan
Image of the PG&E logo.
Get the latest news from PG&E!

Judge Approves PG&E’s $58 Billion Bankruptcy Settlement Plan

SAN FRANCISCO — A federal judge on Friday OK’d a $58 billion plan by the nation’s largest utility to reemerge from 18 months of bankruptcy protection that began after Pacific Gas & Electric’s outdated equipment sparked California wildfires that killed more than 100 people, wiped out entire towns — and led the company’s leaders to plead guilty to involuntary manslaughter and other crimes driven by greed and neglect.

The judge’s decision clears the way for PG&E to pay $25.5 billion for losses from devastating fires in 2017 and 2018.

Dozens of lawsuits were settled during the ordeal, with $13.5 billion now earmarked for more than 80,000 people who lost family, homes, businesses and other property in the catastrophic fires.

Leave a Reply

Sierra News Online

Sierra News Online