September 19, 2019 / 9:43 PM / 25 days ago

Wildfire victims' committee pans PG&E's $11 bln deal with insurers

The committee representing wildfire victims in the bankruptcy of PG&E Corp has attacked a recent $11 billion settlement between the power producer and insurance companies, arguing the deal violates bankruptcy rules on the order of payments to creditors.

Committee lawyer Cecily Dumas of Baker & Hostetler in a filing in U.S. Bankruptcy Court in San Francisco on Wednesday charged that the settlement improperly puts PG&E’s so-called subrogation claimants on par with wildfire victims.

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