I request you speed up the process to a sprint-like manner and direct the Fire Victim Trust to provide transparency and accountability in the administration of the fire victims money Judge Montali did not respond to KQEDs request for an interview. Fire victims and public officials are calling for increased oversight of the Fire Victim Trust set up to distribute billions of dollars in compensation to families displaced by fires sparked by Pacific Gas and Electric Co.
Pg E Finalizes Multi Billion Dollar Fund For Fire Victims Thousands Awaiting Relief Krnv
PGE itself is not involved in the process of paying fire victims now that the bankruptcy is resolved a fact the company stressed in a statement to The.
Pg&e fire victims. PGE was forced into bankruptcy after its. Thats following a KQED investigation which found the Trust spent 51 million on overhead last year while the vast majority of fire victims havent received. The vast majority of the nearly 70000 fire survivors are waiting for the compensation theyre owed as a result of PGEs bankruptcy settlement while the trust responsible for managing the money racked up over 51 million in operating costs in 2020.
At the time he served on an 11-person. On July 1 2020 the Fire Victim Trust was created and funded in part to process and pay claims from a 2019 PGE settlement to victims of the 2015 Butte Fire. Among other provisions PGE must establish a trust compensating victims of the 2018 Camp Fire and other wildfires to the tune of 135 billion according to the plea agreement included in a.
Tens of thousands of victims will be able to vote on the plan. As of November 2019 only 11 of the 11000 homes destroyed in the fire had been rebuilt according to NPR. PGE fire victims have begun voting on PGEs bankruptcy plan which opened on April 1 and will remain open until May 15.
PGE fire victims included in a December 2019 settlement with the company have yet to see a dime. Estimates of total fire claim damages range from 30 billion to 54 billion. Under the direction of the Trustee the Honorable John K.
Under the proposed settlement with fire victims PGE would deposit into a Fire Victims Trust a 54 billion in cash on the Effective Date targeted as August 29 2020 b 650 million on January 15 2021 c 700 million on January 15 2022 and d 675 billion in common stock of the reorganized PGE which will represent not be less than 209 of the company on the Effective Date. SAN RAMON A trust representing more than 80000 victims of deadly wildfires ignited by Pacific Gas and Electrics rickety electrical grid is suing nearly two dozen of the utilitys former. Trotter Ret and the Claims Administrator Cathy Yanni the Fire Victim Trust will provide an efficient and equitable process to review and compensate Fire Victims for both.
PGE voluntarily filed for bankruptcy protection on January 29 2019 to deal with the liabilities arising from the wildfires of 2015 2017 and 2018 that destroyed nearly 20000 homes and killed at least 130 people. Many families who have been displaced by fires caused by PGEs equipment are living in precarious situations. PGE was forced into bankruptcy after its equipment sparked the Camp Fire that killed at least 85 people and nearly wiped out the Northern California town of Paradise.
7 hours agoTrostle had a front-row seat to discussions that led to a controversial settlement deal struck between PGE and lawyers for fire victims in December 2019. PGE announced its plans to enter Chapter 11 bankruptcy protection in January 2019 10 weeks after its equipment sparked the Camp Fire which killed at least 85 people and destroyed almost 19000 homes and businesses in and around Paradise. The settlement with tens of thousands of fire victims.
Thats as lawyers and administrators have. In its plan PGE proposed to deal with that practical problem by creating a special trust called the Fire Victim Trust to be used to pay the fire victims as their claims were resolved. Stating fire victims are languishing is an understatement Trostle added.
My goal is to keep the cost of administration below or as close to 1 as possible Trotter wrote of the Fire Victim Trust. The Fire Victim Trust will evaluate administer process and resolve eligible claims arising from the 2015 Butte Fire 2017 North Bay Fires and 2018 Camp Fire. Attorneys for the fire victims negotiated the deal on behalf of survivors and it was funded half with cash and half with foundering PGE stock.
