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(AP) — A U.S. judge has approved Pacific Gas & Electric’s $58 billion plan to end its contentious bankruptcy.
The nation’s largest utility had faced dozens of lawsuits after its outdated equipment ignited a series of wildfires in California that killed more than 100 people and wiped out entire towns.
Friday's decision clears the way for the nation’s largest utility to pay $25.5 billion for losses from devastating fires in 2017 and 2018.
The settlements negotiated during the 17-month bankruptcy case include $13.5 billion earmarked for more than 80,000 people who lost family, homes and other property in the fires.
