After the devastating forest fires in California, the utility PG&E files for bankruptcy. The group wants to protect themselves from the claims of his creditors. For the fire victims this is a bad news: you could now get only a fraction of their claims. the
The largest US utilities PG&E has filed, after the devastating forest fires in the state of California bankruptcy. The energy giant claimed on Tuesday the protection of creditors. Background exposures after the fires from the years 2017 and 2018. At the same time, the utilities wished to strengthen its security measures against a new fire. PG&E is protected first, before the demands of his creditors, and may operate its businesses.
For the victims of the forest fires in California this is a bad message. You make ramshackle power lines from PG&E for the outbreak of the fire responsible, among other things, for that in November 2018, when at least 86 people died. You will now be treated like all other creditors of the group and should, therefore, receive only a fraction of their claims.
Even if the investigations are not yet complete, the evidence suggests that poorly maintained power have triggered lines of the energy group, PG&E, the devastating fire in November, the small town of Paradise, burned completely down. Apparently was shortly before the outbreak of the fire broken a bracket in an overhead line and caused a short circuit. A spark that was enough to be in bone-dry California forest to trigger an Inferno. Without a bankruptcy petition PG&E should have, in all likelihood, Thousands of damages to the Victims, in particular families, who have lost your house or your business to the fire.
debt in the amount of more than 18 billion US-Dollar
PG&E was also before the discoveries in California, already under intense scrutiny, due to several fires in the year 2017. Also, if you ailing PG&E has been suggested infrastructure as the cause. At least in the case of a deadly fire from 2017 the company was relieved last week by brand experts.
The U.S. energy group, has debt of more than $ 18 billion. Insider had previously reported, the company will fear a cost of over US $ 30 billion after the large fires of the past two years. The reinsurer Munich re has estimated the damage from the disaster in California in November to 16.5 billion dollars. The former PG&E Head Geisha Williams is now withdrawn. PG&E serves more than six million households in Northern California with electricity and Gas.