Nearly two dozen California wildfire victims are asking a federal judge to reconsider a $13.5 billion settlement that lawyers for the official bankruptcy committee for survivors brokered with PG&E in December as part of the utility's exit from Chapter 11.
The court in San Francisco on Wednesday posted a batch of letters sent to U.S. Bankruptcy Judge Dennis Montali from 22 victims of wildfires, including the Camp Fire, which Cal Fire determined was sparked by PG&E equipment.
"Please hold PG&E Fully Accountable! The current amount set aside isn't enough!" wrote Camp Fire survivor Tina Reszler, who lost her home and her dog, Talula, in the 2018 blaze.
The Official Committee of Tort Claimants, or TCC, is made up of 11 survivors who represent the tens of thousands of victims of recent fires caused or suspected to have been caused by PG&E. The committee's lawyers reached the multibillion dollar agreement with the utility in December, nearly a year after PG&E filed for Chapter 11 bankruptcy protection, citing wildfire-related liabilities.
While TCC lawyers have handled negotiations on behalf of the vast majority of victims, letters to Montali have been one of the few direct forms of communication between individual survivors and the court. And this most recent batch, posted to the court docket, paints a portrait of frustration and emotional anguish.
"We know how bad this settlement is for survivors. It is my sincerest hope that the majority of claimants vote this down," wrote Camp Fire survivor Lisa Williams. "Survivors have taken a backseat to all the rich investors that have had an eye on making a profit at our expense."
Several survivors specifically noted their concern that half of the settlement will come in the form of PG&E stock.
"Further disconcerting is the expectation that fire victims accept potentially volatile, unreliable and delayed funding in the form of restructured PG&E stock and tax benefits, while the same financing has been ardently refused by experienced hedge fund managers," wrote James Finn of Santa Rosa, who lost his home in the Tubbs Fire.
PG&E reached a separate $11 billion all-cash deal with insurance claim holders in September.
The current draft summary being prepared for survivors to review, ahead of a vote this spring, states that "no fire victims will receive stock of reorganized PG&E Corp directly." However, shares of PG&E are slated to go into a trust that will be set up to pay their claims. That means the payments they receive would be tied, in part, to PG&E's share performance after bankruptcy.
Several survivors also asked Montali to institute a cap on fees they will have to pay to personal injury lawyers representing them.
In addition to their grievances, the letters include personal accounts of harrowing escapes and loss. Many make clear that their troubles are far from over.