Attorney: PG&E wants trust fund for wildfire lawsuits
SAN FRANCISCO (AP) — An attorney for Pacific Gas & Electric Corp. says its goal in its bankruptcy case is to establish a trust fund to resolve all lawsuits from wildfire victims.
Lawyer Stephen Karotkin said at a hearing Thursday that the fund could be financed in various ways and would expedite payments to families affected by wildfires.
Legal experts say wildfire victims could receive less money in payouts in bankruptcy court.
Karotkin said PG&E did not file for bankruptcy to avoid potential responsibility for California wildfires in 2017 and 2018.
He said Chapter 11 was the only way the company could restore financial stability, address wildfire claims fairly and continue providing reliable electric and gas service.