“This takes care of our concerns that paying the fine would reduce the amount available for the victims,” Mike Danko, the lawyer for the victims, said in an email. “We’re satisfied with this result.” Insurers with claims against PG&E in bankruptcy agreed to wait 15 days to be paid, letting the fund generate enough interest...
Wildfire
Mike Danko explains to the Wall Street Journal that if the Wildfire Victims’ Trust is funded in part with PG&E stock, then victims would necessarily bear the financial risk of future wildfires, at least until the stock can be sold. But the risk is mitigated by a $21 billion insurance fund that PG&E would be...
PG&E wants to be out of Chapter 11 Bankruptcy by June 30. But Governor Newsom doesn’t like PG&E’s exit plan. “I have no interest in the existing management and the existing board,” Newsom said. “It has to be a completely new company.” And he kept repeating this threat: “There’s going to be a new company...
The CPUC is out with its report on the Camp Fire. The report lists all the opportunities PG&E had to prevent the fire from happening. Instead, PG&E chose to neglect safety and maximize profits. Mike Danko tells the Wall Street Journal, “It’s not one bad day, not one missed hook. They let the equipment run...
“Each of the competing proposals gives financial backers an out under certain conditions. For example, if PG&E-sparked fires burn down 500 houses this year, the backers of those plans can withdraw, Danko said.” Read the Chicago Tribune Article online....
KRON4’s Sanaz Tahernia asks Mike Danko how we came to be in this position and what we can do about it. ...
Mike Danko explains how PG&E seeks to limit legitimate claims by imposing a deadline that is too short for many victims. Overwhelmed or Ill Informed, 70,000 Wildfire Victims May Get Nothing Read the New York Times article on line....