BY DALE KASLERJUNE 25, 2019 11:18 AM
“PG&E Corp.’s key lenders offered a $30 billion plan Tuesday to compensate wildfire victims, pull the utility out of bankruptcy — and give the tarnished company a new name.
The proposal, filed in U.S. Bankruptcy Court by PG&E’s major bondholders, would set aside $16 billion to $18 billion to pay claims on the 2017 and 2018 wildfires. While that’s well short of the $30 billion PG&E has estimated is needed to satisfy its wildfire liabilities, one advocate for wildfire victims called the proposal a promising step.” Read More Here…
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Photo: Rich Pedroncelli / Associated Press 2018