Judge Approves $25 Billion For Wildfire Victims, Insurers

SAN FRANCISCO (AP) – A federal bankruptcy judge has approved two Pacific Gas & Electric settlements totaling $24.5 billion to help pay for the losses suffered by homeowners, businesses and insurers in a series of catastrophic Northern California wildfires. Those fires led the company into a financial morass and Tuesday’s decision bolsters PG&E’s chances of following its preferred path for getting out of bankruptcy by a June 30 deadline. Even so, the utility still must sway California Gov. Gavin Newsom from his recent recent conclusion that PG&E’s plan doesn’t comply with state law to prevent the settlements from unraveling.