PG&E filed a Chapter 11 bankruptcy on January 29, 2019. A lawsuit or other filings may be required to secure your claim. We also recommend that you get your claim on file as soon as possible because the timing of your filing may have an impact on any compensation you receive.
TO LEARN ABOUT YOUR LEGAL OPTIONS
PG&E states on the Form 8-K that one of the reasons for them to file Chapter 11 is to “support the orderly, fair and expeditious resolution of PG&E’s potential liabilities resulting from the 2017 and 2018 Northern California wildfires.” This indicates PG&E wants to rapidly resolve any liabilities they may have for your losses.
What happens to my wildfire claim now that PG&E has filed for bankruptcy?
Generally, when a company files for bankruptcy in the middle of a lawsuit, the lawsuit gets “stayed.” A stay of the lawsuit means the lawsuit is put on hold and nothing can be done in the litigation. This is because the bankruptcy action typically takes over.
The job of the bankruptcy court, trustees, lawyers and other parties to the bankruptcy is to put together a plan for dealing with all of the company’s liabilities. Here, the 2017 North Bay Fires and 2018 Camp Fire may total $30 billion in liability PG&E faces if found responsible for causing the fires.
An individual, business or other entity’s claim against PG&E for damages caused by the 2017 or 2018 wildfires now makes them an “unsecured creditor” in the eyes of the bankruptcy court. An unsecured creditor is someone the bankruptcy court now recognizes as someone that PG&E owes a debt to and needs to be accounted for during the bankruptcy.
Time is of the essence to file your damage claim against PG&E. If you suffered losses during the Camp Fire, you should contact us today and ensure that you preserve your rights. Do not let PG&E get away from their responsibility to you.
How do I make sure my wildfire damage claim against PG&E is recognized by the bankruptcy court?
Our lawyers and staff are here to assist you in navigating your claim against PG&E through this bankruptcy action.
Our team of lawyers and staff are experienced in handling matters involving the bankruptcy courts. Our lawyers have successfully navigated countless bankruptcy proceedings on behalf of clients that suffered damages as a result of asbestos exposure. More than fifteen asbestos manufacturers have filed for bankruptcy over the years, and our lawyers have been able to assist thousands of families in recovering from these bankrupt companies.
Please contact us at 866-504-7321 or complete our contact for a free and confidential case evaluation. There is no out of pocket cost to you for a consultation to learn more about your state or federal employment protections.