September 19, 2019 / 10:25 PM / a month ago

Wildfire victims in PG&E bankruptcy to present $24 bln reorganization plan

SAN FRANCISCO, Sept 19 (Reuters) - The committee for wildfire victims in the bankruptcy of PG&E Corp said in a court filing on Thursday it is prepared to present a $24 billion reorganization plan for the power provider.

The committee, joined by a group of unsecured noteholders, said in the filing in U.S. Bankruptcy Court in San Francisco that the plan will provide for a “comprehensive settlement” of all of claims against PG&E stemming from massive wildfires in recent years that pushed the company to seek Chapter 11 bankruptcy protection in January. (Reporting by Jim Christie)

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