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California Wildfire Victims See Little Payout from PG&E Settlement May 11, 2021
A trust approved by a federal judge to help compensate victims of deadly California wildfires sparked by Pacific Gas & Electric equipment paid survivors just $7 million while racking up $51 million in overhead in its first year of operation, KQED News reported.
The Fire Victim Trust was set up to compensate 67,000 victims as part of a bankruptcy settlement. Attorneys for the fire victims negotiated the deal on behalf of survivors, and it was funded half with cash and half with foundering PG&E stock.
PG&E was forced into bankruptcy after its equipment sparked the Camp Fire that killed at least 85 people and nearly wiped out the Northern California town of Paradise.
California Fire Victims See Little Payout From Settlement May 10, 2021
SAN FRANCISCO (AP) A trust approved by a federal judge to help compensate victims of deadly California wildfires sparked by Pacific Gas & Electric equipment paid survivors just $7 million while racking up $51 million in overhead in its first year of operation, KQED News reported.
The Fire Victim Trust was set up to compensate 67,000 victims as part of a bankruptcy settlement. Attorneys for the fire victims negotiated the deal on behalf of survivors, and it was funded half with cash and half with foundering PG&E stock.
PG&E was forced into bankruptcy after its equipment sparked the Camp Fire that killed at least 85 people and nearly wiped out the Northern California town of Paradise.
Wildfire victims see little to no compensation from PG&E settlement trust
Published article
PARADISE, CA - NOVEMBER 15: An aerial view of a neighborhood destroyed by the Camp Fire on November 15, 2018 in Paradise, California. Fueled by high winds and low humidity the Camp Fire ripped through the town of Paradise charring over 140,000 acres,
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SAN FRANCISCO - A trust approved by a federal judge to help compensate victims of deadly California wildfires sparked by Pacific Gas & Electric equipment paid survivors just $7 million while racking up $51 million in overhead in its first year of operation, KQED News reported.
The Fire Victim Trust was set up to compensate 67,000 victims as part of a bankruptcy settlement. Attorneys for the fire victims negotiated the deal on behalf of survivors, and it was funded half with cash and half with foundering PG&E stock.