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 vote no,” said Kirk Trostle, one of the committee members who resigned. [But] Mike Danko, an attorney representing more than 6,600 fire victims, said . . . .“A ‘no’ vote sort of means thermonuclear meltdown. There is no Plan B.”
Read Wall Street Journal Article.