Update: Judge Confirms Pg&E Bankruptcy Exit Plan Including $25.5 Billion For Wildfire Losses - SFGate

Update: Judge Confirms Pg&E Bankruptcy Exit Plan Including $25.5 Billion For Wildfire Losses - SFGate: By Julia Cheever
Bay City News Service
SAN FRANCISCO (BCN)
A U.S. bankruptcy judge in San Francisco gave final approval Saturday to PG&E's $58 billion plan for exiting its Chapter 11 bankruptcy.
The confirmation order signed by U.S. Bankruptcy Judge Dennis Montali ends the utility's 17 months in the Chapter 11 bankruptcy, which temporarily suspended PG&E debts that included billions of dollars in claims stemming from wildfires caused by breaks in its electrical lines and equipment.
PG&E Chief Executive Officer Bill Johnson said the order "is a critical milestone that brings us one step closer to compensating wildfire victims fairly and quickly and sets the course for PG&E's future."
Montali previously announced in a ruling Wednesday that he had decided to approve the plan after finalizing the wording following a hearing on Friday.
The financial reorganization plan provides $25.5 billion for wildfire losses, including a $13.5 billion trust for wildfire victims, $11 billion for insurance companies that paid claims and $1 billion for state and local government agencies.
More than 100 people died in the fires, which included a series of blazes in the North Bay in 2017,