PG&E Switches To Opt-In Releases In Revised Ch. 11 Plan
Law360 (November 5, 2019, 4:34 PM EST) -- Pacific Gas & Electric creditors would no longer have to specify they want to retain their litigation rights under a revised Chapter 11 plan the utility has filed with a California bankruptcy court.
The revised plan filed Monday flips the litigation releases from "opt-out" to "opt-in" and also specifies that PG&E's proposed $11 billion settlement with insurance companies over claims stemming from wildfires allegedly sparked by the utility's equipment won't prevent policyholders from pursuing their own claims against their insurers.
The nation's largest utility filed for Chapter 11 in January, buckling under billions of dollars in potential liabilities tied to its...
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