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Danko Warns: “There Is No Plan B”

April 1, 2020 Posted In

Some wildfire victims are campaigning to defeat PG&E’s plan to pay victims $13.5 billion in stock and cash and exit bankruptcy.  They fear the stock value is too uncertain and want to vote against the plan and attempt to renegotiate the deal. “The only way for fire victims to get a fair deal is to…

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Criminal Fine Won’t Come Out Of PG&E Victims’ Money

March 31, 2020 Posted In

“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…

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WSJ Asks Danko About Risks To PG&E Victims’ Fund

February 15, 2020 Posted In

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…

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Governor Newsom, Mike Danko Talk About What Lies Ahead For PG&E

February 1, 2020 Posted In

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…

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