Some 1,000 lawsuits have been filed since late 2017 demanding Pacific Gas & Electric Corporation pay for damages caused by wildfires. The lawsuits represent thousands of people, companies, cities and counties affected by fires.
They range from a rancher’s $3,000 small claims complaint to insurance companies’ demands for billions of dollars to reimburse their payouts to policyholders. Cities and counties are suing PG&E for destroyed schools, parks and other public property in addition to the cost of responding to the fires.
PG&E lawyers have filed denials of responsibility in the courts. But when the corporation filed for bankruptcy protection Tuesday, it said these and other lawsuits could ultimately cost it $30 billion.
PG&E’s chief executive says bankruptcy will help settle the litigation in an orderly and fair manner.
- PG&E in California Files for Bankruptcy in Wake of Wildfire Liabilities
- Hedge Fund Baupost Reported to Hold $1 Billion in PG&E Insurance Claims
- PG&E Bankruptcy Looms With $30B in Potential Liabilities from California Wildfires; CEO to Exit
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