Lawyers representing victims of recent Northern California wildfires say they intend to object to a proposed $11 billion deal Pacific Gas & Electric Co. has reached with insurers related to claims stemming from the 2017 Northern California wildfires and the 2018 Camp Fire.

PG&E announced the deal jointly Friday morning with a group of insurers who represent about 85% of the subrogation claims pending against the Northern California utility company in its Chapter 11 bankruptcy case. The insurers, who have been represented by counsel at Willkie Farr & Gallagher in the case, said in a statement Friday that the deal wouldn’t fully satisfy the $20 billion in unsecured claims they have pending, but that it would provide a pathway for the company to emerge from Chapter 11 by a June 2020 legislative deadline.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]