PG&E proposes reorganization plan with $17.9 billion for wildfire claims.
The plan includes payments capped at $8.4 billion for wildfire victims, payments capped at $8.5 billion for reimbursing insurers that had paid victims and a $1 billion settlement with local governments.
The plan filed in U.S. Bankruptcy Court in San Francisco includes payments capped at $8.4 billion for wildfire victims, payments capped at $8.5 billion for reimbursing insurers that had paid victims and a $1 billion settlement with local governments. PG&E must file a detailed reorganization plan by Sept. 29, the day its so-called exclusive period for filing a Chapter 11
The utilities would help support the fund with contributions. PG&E has said in court papers that taking part in the fund will enhance its finances over the long term.
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