February 25, 2021
A massive lawsuit against former PG&E officials has been relaunched. John Trotter, who is a retired state court judge, was appointed as a trustee for the Fire Victim Trust and filed the lawsuit into San Francisco Superior Court yesterday. The suit alleges that the company’s former officials should be held liable for damages from the 2017 North Bay fires and the 2018 Camp Fire. The Fire Victim Trust represents more than 80,000 wildfire victims from Sonoma and other Northern California areas.
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Operator
Thank you for standing by, and welcome to the PG&E Corporation Fourth Quarter 2020 Earnings Release and Conference Call. [Operator Instructions]
I would now like to hand the conference over to Matt Fallon, Senior Director, Investor Relations, PG&E. Mr. Fallon, please go ahead.
Matt Fallon
Senior Director, Investor Relations
Good morning. Thank you for participating in PG&E s Fourth Quarter 2020 Earnings Conference Call. Joining us today are Patti Poppe, our Chief Executive Officer; and Chris Foster, Vice President and Interim Chief Financial Officer. I want to remind you that our discussion will include forward-looking statements about our outlook for future financial results, which are based on assumptions, forecasts, expectations and information currently available to management. Some of the important factors that could affect the company s actual financial results are described on the second page of today s fourth quarter earnings call presentation. The presentati
Fire Victim Trust Sues California Utility Executives for Causing Wildfires February 24, 2021
The Fire Victim Trust has filed a lawsuit in San Francisco Superior Court against certain former officers and directors of PG&E Corp. and Pacific Gas and Electric Co. for their role in causing the catastrophic 2017 North Bay Fires and the 2018 Camp Fire.
The Fire Victim Trust retained the right to bring suit as part of the 2020 settlement between the fire victims and PG&E.
The lawsuit,
John Trotter, Trustee of the PG&E Fire Victim Trust v. Lewis Chew, et al., San Francisco Superior, alleges that the wildfires were a direct result of the defendants’ breach of their fiduciary duties to act in the best interests of PG&E. The North Bay Fires and Camp Fire killed over 100 people, injured many more, and damaged or destroyed tens of thousands of homes.
Fire Victim Trust Fund to send first pro-rated percent of claims in March
It has been two years and three months since the Camp Fire and few survivors have seen money from the Fire Victim Trust Fund. Survivors are now asking, where is the money?
Posted: Feb 7, 2021 10:49 PM
Updated: Feb 8, 2021 10:08 AM
Posted By: Carmela Karcher
PARADISE, Calif. - Driving through Paradise, you see more empty lots than new development. It has been two years and three months since the Camp Fire ripped through the ridge.
Few survivors have seen money from the PG&E Fire Victim Trust Fund.
Thousands of survivors are wondering, where is my money?
FAIRFIELD-SUISUN, CALIFORNIA
PG&E settlement fund $1 billion short for California wildfire victims, trust’s leader warns [The Sacramento Bee]
Jan. 29 The trust established by PG&E Corp. to pay California wildfire victims is “more than $1 billion short” of what’s needed to pay anticipated claims, the trust’s overseer said.
In a letter to victims filed Tuesday in U.S. Bankruptcy Court, the head of the Fire Victim Trust said the shortfall is the result of a downturn in PG&E’s stock price, which makes up about half of the settlement fund.
“To date, with the stock at its present value, the Trust is more than $1 billion short of its intended settlement value,” wrote retired appeals court Justice John Trotter, the fund’s trustee.