Attorney: PG&E Wants Trust Fund for Wildfire Lawsuits - NBC Bay Area
San Francisco

San Francisco

The latest news from around San Francisco

Attorney: PG&E Wants Trust Fund for Wildfire Lawsuits

    processing...

    NEWSLETTERS

    Judge: PG&E Put Profits Over Wildfire Safety

    A U.S. judge berated Pacific Gas & Electric Corp. on Wednesday, accusing the nation's largest utility of enriching shareholders instead of clearing trees that can fall on its power lines and start fires and making "excuses" to avoid turning off electricity when fire risk is high. Bob Redell reports.

    (Published Thursday, Jan. 31, 2019)

    An attorney for Pacific Gas & Electric Corp. says its goal in its bankruptcy case is to establish a trust fund to resolve all lawsuits from wildfire victims.

    Lawyer Stephen Karotkin said at a hearing Thursday that the fund could be financed in various ways and would expedite payments to families affected by wildfires.

    Legal experts say wildfire victims could receive less money in payouts in bankruptcy court.

    Karotkin said PG&E did not file for bankruptcy to avoid potential responsibility for California wildfires in 2017 and 2018.

    He said Chapter 11 was the only way the company could restore financial stability, address wildfire claims fairly and continue providing reliable electric and gas service.

    Get the latest from NBC Bay Area anywhere, anytime
    • Download the App

      Available for IOS and Android