RK&O partner Gregory Plotko quoted in Law360 on PG&E wildfire settlement

Print PDF
September 13, 2019

A group of insurance companies with claims against Pacific Gas and Electric for payouts they made to victims of California's 2017 and 2018 wildfires announced on  Friday that it has agreed to settle with the bankrupt utility for $11 billion. 

RK&O partner Gregory Plotko discussed the proposed settlement with Law360 and noted that the settlement leaves two major creditor groups — the tort claimants and an ad hoc bondholder group — that are not onboard with PG&E's proposed plan. "That starts a lot of momentum, and that will put some pressure on the remaining parties to negotiate," he said.  

PG&E, Insurers Cut $11B Deal Over Calif. Wildfires - Law360 (subscription required)