(Bloomberg) — PG&E Corp. reached a $13.5 billion settlement with victims of wildfires ignited by its power lines, a major step toward resolving the biggest utility bankruptcy in U.S. history.The agreement will cover claims stemming from some of the worst fires to hit Northern California, including the 2017 wine country fires and the 2018 Camp Fire, the company said in a emailed statement. The 2015 Ghost Ship fire and the 2017 Tubbs fire are also covered, although the utility doesn’t admit fault for either blaze, PG&E said.The payout to victims will be financed through cash, stock in reorganized PG&E and …read more
Source:: Yahoo Finance
