NewsCovering California


PG&E emerges from bankruptcy

Posted at 11:46 AM, Jul 02, 2020
and last updated 2020-07-02 14:46:15-04

PG&E has announced that they have emerged from bankruptcy after their equipment sparked wildfires throughout the state, which led to massive lawsuits.

PG&E has deposited $5.4 billion in the Wildfire Victim Trust to handle claims of individuals. The company has also funded two additional settlements.

The settlements including $1 billion to individual cities and counties and $11 billion to insurance companies.