A group of attorneys for victims of wildfires caused by PG&E Corp. have indicated they won’t support its plan to exit bankruptcy anymore unless the company can guarantee that it will actually fund the full $13.5 billion it has promised to pay their clients, the San Francisco Chronicle reported. The lawyers want their clients to hold off on voting for PG&E’s bankruptcy plan until next month, by which point they hope to have secured a better deal with the company. Fire victims and their lawyers have been increasingly vocal about their dissatisfaction with a $13.5 billion settlement that would pay their claims because they no longer trust that PG&E will provide the full dollar amount. So the creditor committee of victims in the company’s bankruptcy case is trying to get PG&E to improve the arrangement by April 28. The committee yesterday asked U.S. Bankruptcy Judge Dennis Montali to let the group send a letter to victims urging them not to vote on the exit plan until after they send a follow-up report on May 1 detailing whether the company improved the settlement deal. All creditors have until May 15 to vote on the plan.
