Judge approves $105M fund for California wildfire survivors
SAN FRANCISCO (AP) — Pacific Gas & Electric Corp. received approval on Wednesday to establish a $105 million fund to help survivors of recent California wildfires started by the utility’s equipment.
A federal judge overseeing PG&E’s bankruptcy case approved the utility’s wildfire assistance program to provide relief for people who lost property during the huge fires in 2017 and 2018.
Lawyers for wildfire victims argued that PG&E could pay up to $250 million to adequately help their clients and pointed out that the utility sought last month to pay $235 million in bonuses for its employees.
U.S. Bankruptcy Judge Dennis Montali said he couldn’t under the law impose a larger amount, and said the fund, created voluntarily by PG&E, was an “appropriate remedy.” He said he wanted to see the fund up and running as quickly as possible and wanted both sides to name an independent third party in five days to administer the program.
Read more: https://www.apnews.com/34a838f49bba4745a2a4d7b898f5ce1b
