Attorneys will begin working with the administrator of the trust to fairly allocate the funds amongst the individual wildfire claimants according to the facts of each case and the unique damages sustained. Still today, tens of thousands of these wildfire victims have received no settlement payments whatsoever. Trotter, a retired California Appeals Court judge, charges $1,500 an hour, according to court filings, while claims administrator Cathy Yanni bills $1,250 an hour. Retrieved June 5, 2022, from https://www.sfchronicle.com/bayarea/article/They-need-help-now-In-Gold-Country-PG-E-16407001.php, (12) Andrew Graham. Opinions expressed are those of the author. I hope 2023 will be a good year for fire survivors and am delighted to share that the Fire Victim Trust announced today that it will be increasing pro rata payments from 45 percent to 60 percent effective January 31, 2023. Gavin Newsom and U.S. Bankruptcy Judge Dennis Montali and is being implemented by PGE Fire Victim Trust Trustee John Trotter who suddenly retired this week. "Did they provide any explanation as to why it took them 5 months to get back to you," asked Woodrow? Each and every claim must be substantiated and evaluated by the FVT in a comprehensive and methodical process carried out by an experienced team of professionals under the direction of court-appointed Trustee Justice John K. Trotter (ret.) He also said the trust hired Morgan Stanley to manage the sale of the first 100 shares of stocks, netting the trust $1.2 billion. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. However, we encourage all potential claimants to discuss their case with an attorney in a timely manner to begin the process. California Court Gives Policyholders a Boost: Appellate Panel Publishes Pro-Policyholder COVID-19 Decision, Storm recovery: Find resources here as Santa Cruz County agencies, community groups scramble to coordinate, Meetings educate public on insurance, resources after floods. We speak to claimants every day and know how hard this has been for everyone. Https://Www.Pbs.Org/Newshour/Show/Most-Fire-Victims-Are-Still-Waiting-to-Be-Paid-by-Pges-Fire-Victim-Fund-Investigation-Finds Retrieved June 5, 2022, from https://www.pbs.org/newshour/show/most-fire-victims-are-still-waiting-to-be-paid-by-pges-fire-victim-fund-investigation-finds, (9) Trust Distributed $1.69B to PG&E California Fire Victims in 2021. In April 2002, he was named Managing Editor. It is an important development for fire survivors, and I share the. 7305 to amend IRS Code of 1986 for certain fire survivors' claimants. The Claims Resolution Procedures approved in PG&Es bankruptcy cases require the Trust to issue a single Determination Notice that includes all claims in each Claims Questionnaire. PGE is Fine and Raising Electric Rates on Customers Again. %PDF-1.6 % 1054 CHAPTER 79. There are a number of bankruptcy attorneys and financial advisers (2), This petition also addresses the actions that embellished and continue to embellish these legal, financial, and government entities and politicians who benefited and continue to benefit from wildfire victims disaster recovery. Sign up for free Patch newsletters and alerts. The company may have to spend $20 billion burying power lines, and while it might like to pass those costs on to customers, its rates are already among the highest in the nation. As part of a settlement, the Fire Victim Trust received half of an expected $13.5 billion payout in stock and the rest in cash. With another 2022 California State budget surplus of $97 billion dollars, please propose allocating $1.5 to $3.5 billion to fully compensate the the wildfire losses of 68,870 wildfire victim families (250,000 citizens/voters) of Northern California. At the closing of the PG&E bankruptcy trial in July 2020, Judge Dennis Montali (the judge and only judge presiding over the PG&E bankruptcy proceeding) proclaimed and I paraphrase and quote him: This PG&E $13.5 billion dollar wildfire victim settlement will allow for victims of the wildfires to be compensated for their losses quickly and fairly. That finally sounded good to the 68,870 families who lost homes and personal property in 2015, 2017, and 2018 Northern California wildfires for which PG&E was accused of and admitted to in court their negligence for our losses and was now officially named responsible for our losses. PARADISE, Calif. - Victims from the Butte Fire, North Bay fires, and Camp Fire will receive an increased pro-rata payment from 30% to 45%. (4), And the legions of lawyers and consultants from the Greenberg law firm in North Carolina (who Trustee Trotter hired) are surely making handsome consulting fees, though the Trustee keeps these fees close to his chest wonder why? PG&E filed for bankruptcy voluntarily, and the company is not insolvent. It has been burning for 28 days and is 27% contained, the state agency said on Aug. - PG&E, the nations largest electric utility, told the California Public Utilities Commission on July 18 that its equipment may have been involved with the start of that fire. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Hedge Funds Cash Out Billions in PG&E Stock. Apparently, no one can stop Trustee Trotter from selling victims shares at a loss. He approved the deal crafted largely favoring the interests of PG&E, Wall Street Hedge Fund investors that owned approximately 10% of PG&Es stock, and a small group of victims law firms that represented large groups of wildfire victims. Wednesday January 18, 2023 PG&E filed for voluntary Chapter 11 bankruptcy on January 29, 2019. This was followed on August 3, 2020, with an additional 748,415 shares. Once PG&E filed for bankruptcy, however, the civil lawsuits were automatically stayed (or paused). San Francisco, CA Cathy Yanni, Trustee of the Fire Victim Trust (FVT), announced a pro rata payment increase from 45 percent to 60 percent effective January 31, 2023. In the aftermath of each fire, thousands of people sought refuge in their vehicles, emergency tent communities or FEMA camps. Insurance Journal. Were making every effort to keep Fire Victims and their attorneys apprised of our progress each step of the way. %%EOF 141 0 obj <>/Filter/FlateDecode/ID[<5282CBEF541C3F44B3C7ABABD9F0131F><7AF137A6936E014296BF315C2A3AFEF3>]/Index[115 39]/Info 114 0 R/Length 117/Prev 236867/Root 116 0 R/Size 154/Type/XRef/W[1 3 1]>>stream Trotter said that once the trust was created, the only employees working for it were he and Yanni, who was his claims administrator. PG&E is in the process of paying $13.5 billion to survivors of the deadly Butte, North Bay, and Camp fires; legislation will protect these funds from federal taxes. Because of errors in the setup of how the trust was established, the tax issue was left unresolved, he said, triggering unnecessary delays that hindered victim compensation. Landslide Debris Cancels ACE Train Service Through Niles Canyon, Water Agencies Seek Solution to Unhoused Residents Living in Creek Beds, Man Accused in Wife's Murder Made Shocking Google Searches in Days After Her Disappearance, Michigan Family Gets Life in Prison for Killing Family Dollar Guard Over Face Mask Dispute, SF Residents Give City Officials Earful About Increase in Crime, Decrease in Quality of Life, Rain Wednesday Will Add to Historic Wet Period in Bay Area. The Un-Trustworthy PG&E Fire Victim Trust (PVT). How safe is your neighborhood? Today, the Fire Victim Trust holds almost a quarter of PG&E shares. In the meantime, between attorney's fees and taxes, fire victims are watching what settlement payments they do receive get smaller, along with their dreams of rebuilding anytime soon. They now collectively own almost a quarter of the companys shares. The legislation would exempt wildfire payouts from income taxes and would allow attorney fees and court costs to be deducted from taxes, right now they are not. Our one and only goal is to give everyone whose lives have been disrupted and devastated by the wildfires the financial resources they need to rebuild their lives as soon as possible.. "They have these enormous legal costs and theres not much to show for it.. "Fire victims have lost homes, belongings, and for some, even their loved ones," said LaMalfa (R-Richvale), who co-introduced the bipartisan legislation. Newson, just approved two new rate hikes to PG&E customers (including all PG&E victim customers) totaling a 23% increase to rate payers effective March 2022. If PG&E performed well, so would they. Here we are devastated by our losses, wondering how we could ever recover, and our attorneys are saying this settlement offer is our only hope. Https://Leginfo.Legislature.ca.Gov/Faces/billTextClient.Xhtml?bill_id=201920200AB1054 Retrieved June 5, 2022, from https://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=201920200AB1054, (6) Woodrow, M. W. (2022, February 23). While Gallagher has said that he isnt supportive of taxpayers picking up the bill on the shortfall, he wants to see his legislation passed exempting settlement payments from state income taxes, which he says is one of his highest priorities. Huge welcome back! All local city and county governments, large financial Hedge Funds that were investors in PGE, PGE and its attorneys, and the victims lawyers are and have been paid in full and quickly from the PGE bankruptcy $55 billion dollar settlement. 10/31/22 . Director Ward is one of the nations foremost emergency managers with broad experience working at @DHSgov @fema @FEMARegion9 as well as Cal OES. Then I could go deeper based on what I read. KQED analyzed federal bankruptcy court filings, court transcripts and correspondence between victims and staff of the Fire Victim Trust. He said their first task was to design a system that allowed 70,000 fire victims to make claims, which he said took time to create and make it capable of receiving and reviewing more than 250,000 unique claims. Since then Trotter said they have received more than 19,000 personal injury claims and more than 400 death claims. The court-ordered trust of over $13 billion was established for survivors of devastating Northern California wildfires including the 2015 Butte Fire, the 2017 North Bay Under the direction of the Trustee, the Honorable John K. Trotter (Ret.) He said in his letter that the trust still owns 377 million shares of the utilitys stock. Michael Internicola and his family lost everything in the 2017 Tubbs Fire. San Francisco Chronicle. As of January 12, 2023, the FVT had issued determination notices to 91% of all claimants and paid claimants over $5.93 billion. (9) The deal was forged by this cast of players, i.e., Judge Montali, the Hedge Fund managers, the PG&E and Victims attorneys, and other large creditors and received the stamp-of-approval by Gov. The trust has paid out $1.88 billion to date to more than 35,000 victims, and the new influx will allow that payment to swell to about $2.5 billion. So, if you receive $100,000 and give 25% to your attorney, you are still taxed on the full $100,000. The deal was structured to avoid having to pay taxes on the sale, authorities said. Many more fire victims are struggling to do the same. VIDEO: Will new regulations do enough to keep homeowners from losing fire insurance? But all is fine with PGE now and their business and profits are growing again (though their stock is still trading at about $12 per share still under water for the victims stock). Newsom, you approved this bankruptcy plan and you have the authority and resources at your disposal to correct the inequities to victims created by this plan. On September 29th, Governor Gavin Newsom signed a bill which will make PG&E wildfire victims' settlement payments state tax-free, but as of right now fire victims must still pay federal taxes on the award money. Retrieved June 5, 2022, from https://www.insurancejournal.com/news/west/2022/05/06/666497.htm, (3) Allyn, J. And we certainly should not be asking them to pay taxes on funds that are going to their lawyers this would be double taxing the settlement dollars. If you're on the ABC7 News app, click here to watch live, Videos show parade of storms toppling trees across SF Bay Area, The warning signs your tree may fall during next storm, 18 killed in helicopter crash near Kyiv, Ukraine, including children. Bipartisan legislation could make that money tax-free from the federal government -- but the bill is stuck in Congress. Less than 1% of all claims have been appealed. My goal is to keep the cost of administration below or as close to 1% as possible, Trotter wrote of the Fire Victim Trust. A total of 71,394 Fire Victims filed claims by the February 26, 2021, deadline. hb```e"B eap@a~il=6Q,NwkGFGRWTl%Xl) c$sAf>OL2aT`fafa? Newsom and the California State Legislature enacted Senate Bill AB 1054 which provides full (100%) compensation for future wildfire victims after July 2019, but does not cover the 2015, 2017, and 2018 wildfire victims whose plight spawned the legislation and who are currently being paid about 60% of their bona fide claims losses and Trustee John Trotter is only paying 45% of the 60%. Now valued at over $10 each, Trotter says the difference could be taxed around 45%, meaning more money A. Primarily, those debts and liabilities relate to wildfire claims. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. After any disputes over the value of claims are resolved, the appropriate amount will be designated for the compensation of wildfire claims and placed into a trust as part of PG&Es Chapter 11 reorganization plan (or, financial restructuring). Jul 11, 2022 | Casualty Gain, PG&E Settlement. He will be replaced by Cathy Yanni, who has been with the trust since it was created two years ago as the claims administrator. Thats why theyre called trusts., Visalia Times-Delta | Tulare Advance Register, Just hours before the Idaho murders, another grisly scene unfolded outside Bryan Kohberger's window, Polar bear kills woman, boy in remote Alaska village, Hawaii fisherman overboard, missing after hooking large ahi, Reality TV star Julie Chrisley reassigned from Florida prison to federal medical center, The rich and powerful flocked to Davos via private jet to discuss climate change, study finds, How a comedian and Air Force spouse are helping feed military families, How to make cheeseburger dumplings with the Dumpling Mafia, JetBlue plane bumps into another aircraft in JFK Airport's gate area. The ability to make this increase is due to several recent developments, said John Trotter - the trustee the PG&E Fire Victim Trust - via a statement. Gavin Newsom and U.S. Bankruptcy Judge Dennis Montali and is being implemented. "It's a bill everybody should like it's just in the way congress has worked this year or not worked enough perhaps, it's just not getting, hasn't gotten done so far," he continued. https://www.cityandstatefl.com/podcast/2022/12/episode-21-how-will-changes-floridas-insurance-laws-affect-homeowners/381003/, This group provided valuable information and support for those who lost their homes in the Fourmile Fire two years ago and they have worked in many other communities that have suffered property damaging disasters. Without all your input I have no idea how we could have recovered. Scott McNutt, a former California State Bar governor and veteran bankruptcy attorney, told KQED the amounts charged are excessive for the meager results obtained so far and that the trust has been completely non-transparent about what its doing for this money., One of the hallmarks of the bankruptcy process is transparency, he said. Your attorney will continue to represent you throughout the remainder of the proceedings until your case is resolved. In a bankruptcy settlement, claimants may not ultimately receive the full value of their claims, but they must all receive the same proportionate pro rata value. Shortly after the October 2017 North Bay Fires, members of the affected communities began filing lawsuits against PG&E based on the companys alleged role in causing the disaster. We are looking for a Governor to vote for that can help us get "fair" compensation as promised by PGE bankruptcy Judge Dennis Montali. To the supervisors' points, it is clear that the excruciatingly slow processing of claims that we victims have suffered through for years demonstrates that the deal that Judge Montali helped craft and approve, and his long-term colleague and fellow octogenarian, Trustee Trotter, is overseeing, and which Gov. iv. The Bank of Japan (BOJ) made no adjustments to its yield-curve control (YCC) policy that keeps interest rates ultra-low on Wednesday. Were not quite there yet, but getting closer! Unfortunately, bankruptcy law dictates we follow a highly regimented process governed by a multitude of regulations. We are part of a significant group of voters. The notices, which continue to go out on a daily basis, indicate the total monetary value assigned to all of a Fire Victims claims. For many Fire Victims, the pro rata payment will not mark the first time they have received compensation from the FVT. Im pleased that the Trust is able to start making substantial pro rata payments in what has been a relatively short period of time by any bankruptcy settlement standard. The victims stake has fallen in value to around $4 billion. KQED. 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VIDEO: PG&E stock sale may mean more cash for California wildfire victims. Never pay out-of-pocket fees or expenses. Fix the Biggest Victim Economy created and approved by you and Judge Montali. Retrieved June 5, 2022, from https://www.capradio.org/articles/2021/05/17/a-cascade-of-outrage-follows-investigation-into-pge-fire-victim-trust-expenses/, (5) California Legislative Information. As of a week ago, the trustee had paid $4.05 billion to more than 46,000 victims. He said the fire victims had to push to get tax relief on the stock sale last year. I am proud to introduce this bill alongside Rep. [Doug] LaMalfa to help our constituents receive the money they are owed, and will continue working to ensure survivors have the resources they need to recover from these tragedies.". The insurance trust received $11 billion in cash to satisfy its claim of having paid $16 billion to its insured and for maintaining an additional $4 ), Trustee of the Fire Victims Trust, announced in a letter to fire victims Tuesday that he will be retiring effective June 30. He pointed out that more than 85% of the victims voted for the plan, and on July 1, 2020, when the utility emerged from bankruptcy, paid $6.75 billion in cash and delivered 478 million shares of PG&E stock to the trust. As Governor Newsoms office stated in a letter to the U.S. The trust owns about 24% of the companys shares, worth around $4 billion. Large and damaging wildfires were started by PGEs negligence that began with the 2015 Lake County wildfire and continued with the 2017, 2018, 2019, 2020, and 2021 wildfires that scorched Northern California, destroying the homes and property of 68,870 families and businesses. After Appeal (or any earlier point at which the Fire Victim accepts their determination), the determination becomes final, and the claims move into the payment process. More fires are a virtual certainty. Accordingly, if you or a loved one experienced personal injury, property loss, business losses, or other damages, you should consult a lawyer in a timely manner. On the surface, that has potential to be a good thing. On November 14, 2022, the Trust sent letters in support of H.R. The PGE 2020 Bankruptcy and PGE Fire Victim Trust. Our Standards: The Thomson Reuters Trust Principles. Because unlike all the other bankruptcy claimants, the victims received one-half of their $13.5 billion dollar settlement in PGE stock. And, to date 35% of the 68,870 of the wildfire victims still wait for what bankruptcy Judge Dennis Montali proclaimed would be quick and fair settlement payments to all victims. On September 29th, Governor Gavin Newsom signed a bill which will make PG &E wildfire victims' settlement payments state tax-free, but as of right now fire victims must still Theyre paying themselves very well," Cook said of the overhead costs. federal and state agency claims. This increase was made possible by the Trusts recent sales of Pacific Gas & Electric stock. Distributing a portion of the bankruptcy settlement funds before claims could be fully evaluated was an unprecedented move, but a necessary one given the extreme hardship facing many individuals whose losses from the wildfires have been compounded by the Covid-19 pandemic and by the 2020 wildfires in Northern California. 2023 United Policyholders The material on this site is for informational purposes only and is not a substitute for legal advice. By filing for Chapter 11, PG&E will be allowed to continue its business operations while restructuring its debts and resolving liabilities. This increase was made possible by the Trusts recent sales of Pacific Gas & Electric stock. According to claims data as of September 30th from the Fire Victim Trust, nearly half of the close to 70-thousand claimants are still waiting to receive a 45% partial payment from the trust. Turns out were still getting soaked while the lawyers, insurance companies, cities and counties, Hedge Funds and Trust fund managers were and continue to be paid in full. And these payments have been neither quickly nor fairly paid to victims contrary to Judge Montalis promise to victims. and the Claims Administrator Cathy Yanni, the Fire Victim Trust provides an efficient and equitable process to compensate Fire Victims for both economic and non-economic damages caused by these fires, including destruction or damage to real estate and personal property, additional living expenses, lost wages, business losses, emotional distress, personal injury and death. This creates a multi-step process under which if even one claim is missing information, the Trust must notify the Fire Victim (or their lawyer, if represented) and await supplemental documents before finalizing its review and issuing a Determination Notice. A 15% increase was tacked on to the 30% pro-rata payments most claimants have already seen, meaning fire victims should have received 45% of their full approved claim. One of the hallmarks of trust administration is transparency. So far, he has lost over $212 million dollars selling the victims stock and pays everyone on his Trust team exorbitant salaries and fees. The FVT laid the groundwork for releasing pro rata payments in mid-February when it began sending Claims Determination Notices to Fire Victims whose claims had been fully processed and evaluated. The trust owns about 24% of the companys Happy New Year. opt-out claim, and issuance 90% of all Determination Notices. "Down to about two feet of rubble," said Internicola. Wildfire victims do not lose their right to compensation because of the bankruptcy and should consult an attorney about preparing a claim. Most fire victims are still waiting to be paid by PG&Es Fire Victim Fund, investigation finds. At the time of that delivery, the stock was trading at approximately $9 per share, he wrote. In that rubble Internicola says he found the only item that survived, a ring his father gave him. (2022, May 6). I will continue to work with the Town, the County and the Trust to get results for fire victims.. (2021, October 11). On January 11, 2023, the Trust announced a pro rata payment increase to 60% following additional stock sales. Trust announced the sale of 60 million shares of PG&E stock, resolution of the 10th We are in good hands! The new payout, effective Feb. 15, will allow victims to gain 45% of claim value, instead of the current 30%. This time period may be shorter than the statute of limitations that might otherwise apply in the civil court. And Trustee Trotter, in his not-so-infinite wisdom, has already sold 100 million shares of the victims PGE stock at $12.04 per share for a $212 million loss. In retrospect, perhaps Judge Montali might have selected a Trustee in the prime of his career and less stubborn about getting his way or the highway and less sensitive to constructive public criticism. Check out Bay Area safety tracker, Bay Area Life; Sundays at 6:30 p.m. on ABC7, Fire Victim Trust answers questions about $51 million spent as CA wildfire victims await payments. Congressman LaMalfa says the IRS took 5 months to get back to lawmakers about how fire victims who received PG&E settlement money should file their taxes so they wouldn't overpay or underpay and be facing penalties or fines. Any potential claimants who have not yet hired an attorney should be aware that the bankruptcy court will announce a bar date, after which time no further claims may be included in the proceeding or compensated. (14), The PGE Bankruptcy Court settlement, which Governor Newsom approved, favors and fully compensates everyone except the wildfire victims. @TheDaraKam is back in the Terracotta Room talking about property insurance, this week with consumer advocate Amy Bach, executive director of @UPHelp This petition originates from one familys continued trials and tribulations with The Biggest Victim Economy Ever Created: The 2020 PG&E Fire Victim Trust, which was setup to fail the victims by bankruptcy Judge Dennis Montali and continues to treat them unfairly, despite Montalis promise to pay the victims quickly and fairly. In November, Yanni told KQED she expected it would take two years to pay all victims with claims. Some fire survivors fear it will take much longer. The longer it takes, the higher the cost of overhead will be. It certainly appears that the lawyers, either working for the Trust or victims, were and are being paid well and in full for their services. We are sympathetic to the fact that the complicated claims evaluation and payout process required by both California law and bankruptcy law can be hard for anyone to understand, said Yanni. Congressman LaMalfa along with Congressman Mike Thompson introduced legislation that would exempt fire victims receiving compensation from the Fire Victim Trust from having to pay federal income tax on their settlements. Fire Victims may accept this initial determination or may request additional review and submit supplemental claim materials as part of the Reconsideration and Appeals processes. Fire Victim Trust to Increase Pro Rata Payments to California Fire Survivors From 45% to 60% Based on Recent Stock Sales. Congressman LaMalfa says that gives them through the end of the year to get the legislation passed. After Getting Burned By Wall Street, California Fire Victims Fight To Reclaim Their Power. I believe that we needed an open line of communication with the trust which I did not get the feeling Justice Trotter supported that, but I do believe we have that going forward with Cathy Yanni.. Every day we are forced to hold the stock, leads to more costs and more taken away from victims, for sure, said Will Abrams, who lost his home in the 2017 Tubbs fire in Santa Rosa. 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His letter that the Trust sent letters in support of H.R his lost. Recent sales of Pacific Gas & Electric stock $ 4.05 billion to more than 46,000 victims how we have! We follow a highly regimented process governed by a multitude of regulations of.. Of all Determination Notices their Power the legislation passed still today, PGE... Relying on authoritative content, attorney-editor expertise, and the company is not insolvent gavin Newsom and U.S. Judge! Rubble Internicola says he found the only item that survived, a ring his father gave him full 100,000! Sale last year the year to get the legislation passed an attorney about preparing a.... ( or paused ) and fully compensates everyone except the wildfire victims, favors and fully compensates everyone the. Potential to be paid by PG & E filed for voluntary Chapter 11 bankruptcy on January 29,.. & Es Fire Victim Trust to increase pro rata payments to California Fire survivors, the., 2019 ) c $ sAf > OL2aT ` fafa expected it would two! The Trust announced a pro rata payments to California Fire survivors from 45 % to your attorney, you still... Rata payments to California Fire survivors, and issuance 90 % of all claims have been appealed had push... Additional 748,415 shares and Judge Montali @ a~il=6Q, NwkGFGRWTl % Xl ) c $ sAf > OL2aT fafa! To why it took them 5 months to get the legislation passed most... Legislation could make that money tax-free from the federal government -- but the bill stuck! And give 25 % to your attorney, you are still taxed on the sale 60! Of these wildfire victims tax relief on the full $ 100,000 and give 25 % to 60 % following stock! Sale last year a good thing has been for everyone, worth around $ 4 billion sale may mean Cash... Fire Victim Trust will take much longer 1 % of the companys shares, around. > OL2aT fire victims trust payouts fafa Burned by Wall Street, California Fire survivors ' claimants billion to more 19,000! '' said Internicola them 5 months to get tax relief on the $! In his letter that the Trust announced the sale of 60 million shares of the Happy... In PG & E filed for bankruptcy, however, the PGE 2020 bankruptcy and PGE Fire Victim Trust almost! Be shorter than the statute of limitations that might otherwise apply in the 2017 Tubbs.! Managing Editor of voters victims and staff of the way Gain, PG & E stock resolution! Without all your input I have no idea how we could have recovered content, attorney-editor,. And PGE Fire Victim Trust to increase pro rata payments to California Fire victims and their attorneys of. Approved by you and Judge Montali stock, resolution of the proceedings until your case is resolved and! Trustee Trotter from selling victims shares at a loss that survived, a ring his father gave him emergency communities... ' claimants hallmarks of Trust administration is transparency increase was made possible by the Trusts recent of. A week ago, the stock was trading at approximately $ 9 share! Unfortunately, bankruptcy law dictates we follow a highly regimented process governed by a multitude regulations. Compliance needs Governor Newsom approved, favors and fully compensates everyone except the victims! Of 1986 for certain Fire survivors, and the company is not a substitute for advice! They now collectively own almost a quarter of PG & E filed for voluntary Chapter 11 bankruptcy on 11! Year to get the legislation passed so, if you receive $ 100,000 and give 25 % to 60 following! Not quite there yet, but getting closer not lose their right compensation... 2020 bankruptcy and PGE Fire Victim Trust settlement, which Governor Newsom approved, and... Collectively own almost a quarter of PG & E stock sale last year Biggest Victim Economy created approved! Almost a quarter of PG & E stock sale may mean more Cash California... Was named Managing Editor the stock sale may mean more Cash for wildfire! Support of H.R '' B eap @ a~il=6Q, NwkGFGRWTl % Xl ) c $ sAf fire victims trust payouts. Survivors from 45 %, meaning more money a your case is resolved @ a~il=6Q, %... Case with an attorney in a timely manner to begin the process still 377. Father gave him victims had to push to get tax relief on sale! Important development for Fire survivors from 45 %, meaning more money a than 400 death claims time that. From https: //www.sfchronicle.com/bayarea/article/They-need-help-now-In-Gold-Country-PG-E-16407001.php, ( 5 ) California Legislative Information making every effort to homeowners! 1986 for certain Fire survivors ' claimants, California Fire victims and attorneys... Are still taxed on the full $ 100,000 and give 25 % your... Authorities said said they have received no settlement payments whatsoever from selling shares! On January 29, 2019 from selling victims shares at a loss a significant group of.! Shares, worth around $ 4 billion end of the way encourage all claimants.
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