In the latest news concerning the Pacific Gas & Electric (PG&E) wildfire disasters, the utility company agreed Friday to pay $13.5 billion to settle individual claims associated with the deadly Camp Fire in Paradise, CA, Ghost Ship Fire in Oakland, CA, and several other fires that took place in recent years. The Camp Fire claimed the lives of 85 people, destroying thousands of family homes and other structures in its wake; and the Ghost Ship Fire killed 36 people.
PG&E filed for Chapter 11 bankruptcy in January 2019 following the Camp Fire—California’s deadliest wildfire—in November 2018. This $13.5 billion settlement, while subject to a number of conditions, allows the utility company to exit Chapter 11 bankruptcy next year. This settlement is also the third in the slew of settlements with PG&E—the company previously reached a $1 billion settlement with California public entities, cities, and counties, as well as an $11 billion agreement with insurance companies pertaining to 2017 and 2018 fires.
Following this settlement announcement, PG&E will now work to finalize its reorganization plan. Supporting the settlement and the plan is over $12 billion in equity backstop commitments.
If you and your family suffered damages during the Camp Fire and want to file a compensation claim to receive part of the $13.5 billion settlement, you must do so by 5pm on December 31st. Don’t wait until the deadline to file your claim. Contact one of our attorneys today at (866) 265-0874 for a confidential evaluation of your potential claim. We offer free consultations.