Politics & Government
PG&E North Bay Wildfire Settlements Approved In Bankruptcy Court
Two settlements totaling $24.5 billion will go to North Bay fire victims and insurance companies.
NORTH BAY, CA — A federal bankruptcy judge in San Francisco on Tuesday approved two settlements totaling $24.5 billion between PG&E and victims of North Bay wildfires in 2017 and 2018 that were caused by failures in PG&E electrical equipment.
The settlements approved by U.S. Bankruptcy Judge Dennis Montali include $13.5 billion for fire victims and $11 billion for insurance companies that have already paid claims.
Montali announced his decision at the end of a day-long hearing, saying, "There are tens of thousands of people who just want to go about their lives."
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Lawyers said during the hearing that there are 70,000 claims pending against the utility.
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