12/20/2019
‼️BANKRUPTCY COURT APPROVES SETTLEMENT FOR VICTIMS‼️
✅ On December 17, 2019, the Bankruptcy Court approved the Restructuring Support Agreement (“RSA”) which provides for the equivalent of $13.5 billion in compensation for wildfire claimants.
⚠️ There are still other conditions which must be complied with before the bankruptcy proceedings are complete in order for claimants to receive funds.
⚖️ Subject to satisfaction of these conditions, the funds will be deposited into a court-approved trust to be administered by a trustee and/or third-party administrator. Therefore, no settlement funds are available to pay individual claimants right now.
🔜 We are hopeful that the settlement funds will be allocated to each individual claimant by the third or fourth quarter of 2020.
🔏 Our law firms are signatories to this record settlement agreement with PG&E.
💵 Our goal has always been to maximize the amount of compensation you receive. Negotiating the $13.5 billion agreement enables fire victims to receive a significant settlement. This “settlement” is a huge increase from the $8.4 billion for fire claims contained in PG&E’s prior proposal.
🇺🇸This $13.5 billion settlement has been reported as the largest mass tort settlement in United States history.
🏛 It is important to remember that this is a very complex matter.
📲 Please rely upon only us for advice, insight and information as to this case.
☎️ We will continue to update you as information develops.
