October 8, 2019 / 1:18 AM / 14 days ago

Lawyer for PG&E's fire victims sees their claims at $13.5 bln

The committee representing victims of the wildfires that pushed PG&E Corp into bankruptcy now expects claims stemming from the blazes to be worth $13.5 billion, a committee lawyer said at hearing on Monday on whether stakeholders of the power producer should be allowed to file a reorganization plan for it.

Cecily Dumas of Baker & Hostetler floated the figure to counter the $8.4 billion PG&E has proposed paying fire victims, whose committee is backing a group of noteholders who have proposed a financing plan for the company to emerge from bankruptcy.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2LVQU6P

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