Printed from

PG&E proposes reorganization with $17.9B for wildfire claims

Posted On: Sep. 10, 2019 12:59 PM CST


(Reuters) — California power provider PG&E Corp. on Monday unveiled the outlines of a reorganization plan that will pay $17.9 billion for claims stemming from the wildfires that pushed it to seek bankruptcy protection.

The plan filed in U.S. Bankruptcy Court in San Francisco includes payments capped at $8.4 billion for wildfire victims, payments capped at $8.5 billion for reimbursing insurers that had paid victims and a $1 billion settlement with local governments.