Attorneys believe as many as 100,000 people are eligible to receive payments for damages they suffered during the devastating California wildfires of recent years. But wildfire victims of previous years must wait for PG&E to exit bankruptcy to get any payout from the utility, the Associated Press reported. And as the 2019 wildfire season takes another toll on Northern California and the utility’s equipment is blamed for new fires, the number of homes destroyed ticks up. More victims are filing claims against the company, potentially reducing the payout all victims and creditors could receive. In its bankruptcy plan, PG&E has pledged to pay $8.4 billion to wildfire victims and an additional $11 billion to compensate insurance companies for their payouts. A competing proposal made by bondholders seeking to gain control of PG&E would pay wildfire victims $13.5 billion. It’s unclear how much the total liabilities for wildfire victims will amount to, and the matter is being litigated.
