Recent News on the Butte County Camp Fire

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PG&E Removes Governor Newsom from the $13.5 Billion Fire Deal

Corrupt Lenders

According to a report by Bloomberg, PG&E has made a short-term decision to remove Governor Gavin Newsom from their settlement with wildfire survivors, which now sits at around $13.5 billion. However, even after cutting out the governor, PG&E will still need to make a deal with the governor’s office.

The office of the governor demanded that the utility replaces its entire board. Furthermore, the board requires a better financing plan for “exiting the biggest utility bankruptcy in U.S. History” (Bloomberg). In fact, Newsom’s office rejected a reorganization plan last week (read about it here). Additionally, PG&E’s program must pass the scrutiny of the California Public Utilities Commission (CPUC).

What Do The Experts Have To Say?

So far, it looks as if PG&E is attempting to buy time by removing Governor Newsom from their negotiations with California wildfire survivors. Bloomberg Intelligence had this to say regarding the current situation:

“Doing away with Governor Gavin Newsom’s approval of PG&E’s $13.5 billion settlement with the fire victims may buy the utility some time to placate the Golden State’s concerns, yet will likely heighten tensions. The governor’s approval may not necessarily be a direct requirement of the initial stages of plan development, but likely becomes much more relevant when accessing the Chapter 11 plan’s feasibility at confirmation.” – Negisa Balluku, litigation analyst at Bloomberg Intelligence

Did You Survive a PG&E-Caused California Wildfire?

If you count yourself among the survivors from the Camp Fire (and other 2017-2018 California Wildfires), then you’ve come to the right place! Contact our team of attorneys for help filing a claim with PG&E today! The deadline of December 31 is fast approaching, so act now!


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