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California Fire Victims Receive Small Payout From A $7 Million Settlement

A trust approved by a federal judge to help compensate victims of deadly California wildfires sparked by Pacific Gas & Electric equipment paid survivors just $7 million while racking up $51 million in overhead in its first year of operation, KQED News reported.

The Fire Victim Trust was set up to compensate 67,000 victims as part of a bankruptcy settlement. Attorneys for the fire victims negotiated the deal on behalf of survivors, and it was funded half with cash and half with foundering PG&E stock.

PG&E was forced into bankruptcy after its equipment sparked the Camp Fire that killed at least 85 people and nearly wiped out the Northern California town of Paradise.

Read the source article at Home | Manufacturing Business Technology

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