Review our firm's. Newsom. (2021a, May 17). Any potential claimants who have not yet hired an attorney should be aware that the bankruptcy court will announce a bar date, after which time no further claims may be included in the proceeding or compensated. However, we encourage all potential claimants to discuss their case with an attorney in a timely manner to begin the process. He was born in Chico and attended Butte and Chico State. Fix the Biggest Victim Economy created and approved by you and Judge Montali. We are part of a significant group of voters. A 15% increase was tacked on to the 30% pro-rata payments most claimants have already seen, meaning fire victims should have received 45% of their full approved claim. Sign up for free Patch newsletters and alerts. Contacts For Fire Victims and Attorneys, Throwback OCP&R Tip: storms can cause power outages. The trust has also dealt with 100 emotional distress claims along with more than 20,000 loss of income claims and 38,000 real and personal property claims, which include the value of loss of vegetation and the cost of tree replacement. - The company filed for bankruptcy in January 2019 following a series of wildfires in 2015, 2017 and 2018. And, to date 35% of the 68,870 of the wildfire victims still wait for what bankruptcy Judge Dennis Montali proclaimed would be quick and fair settlement payments to all victims. Because the Trust is a limited fund and bankruptcy laws, court order, and the Trust Documents require that eligible Fire Victims each receive an equal proportion of their awards, Fire Victims receive payments in pro rata installments commensurate with the total cash funding currently available to the Trust. An unidentified spokesman for the Fire Victim Trust told KQED the fund has now increased its payments to families, putting $195.2 million into the hands of those who lost loved ones, homes and businesses to fires caused by PG&E. After Appeal (or any earlier point at which the Fire Victim accepts their determination), the determination becomes final, and the claims move into the payment process. Paradise mayor Steve Crowder welcomed the news of Trotters retirement. Trotter also said that the trust is hoping to maximize their assets by getting a loan from the state of California or from some other instrument that will allow the trust to complete and increase their prorated statements without having to sell more shares in a down market. https://twitter.com/Cal_OES/status/1609310956794019840. Retrieved June 5, 2022, from https://www.capradio.org/articles/2021/05/17/a-cascade-of-outrage-follows-investigation-into-pge-fire-victim-trust-expenses/, (5) California Legislative Information. We speak to claimants every day and know how hard this has been for everyone. Read If you have a claim for fire-related damages, you are considered an unsecured creditor of PG&E for purposes of the bankruptcy process. After Getting Burned By Wall Street, California Fire Victims Fight To Reclaim Their Power. Gov. As part of the bankruptcy proceedings, the U.S. Turns out were still getting soaked while the lawyers, insurance companies, cities and counties, Hedge Funds and Trust fund managers were and continue to be paid in full. This bill has been a long time coming, and I look forward to continuing this effort with Rep. Thompson so survivors can finally get a financial reprieve.". Retrieved June 5, 2022, from https://www.insurancejournal.com/news/west/2022/05/06/666497.htm, (10) ALLYN, J. Newson, just approved two new rate hikes to PG&E customers (including all PG&E victim customers) totaling a 23% increase to rate payers effective March 2022. The court-ordered trust of over $13 billion was established for survivors of devastating Northern California wildfires including the 2015 Butte Fire, the 2017 North Bay The number of claimants, variety of claims, quantity of claims, and size of the multi-billion dollar fund make this one of the largest and most complex mass tort settlements in California history. "It was really disappointing that many members of Congress signed a letter asking for clarification and they took five months fooling around getting back to us," said LaMalfa. California Court Gives Policyholders a Boost: Appellate Panel Publishes Pro-Policyholder COVID-19 Decision, Storm recovery: Find resources here as Santa Cruz County agencies, community groups scramble to coordinate, Meetings educate public on insurance, resources after floods. . For more information, visit FireVictimTrust.com. Closing this discount would more than double its $18 billion market capitalization. ), Trustee of the Fire Victims Trust, announced in a letter to fire victims Tuesday that he will be retiring effective June 30. The House and Senate will be in session in mid-November. "All legislation that is not passed and signed does lapse as of January 2nd so we would put that bill right out on January 3rd as soon as the swearing in is over with and get going again because our constituents have waited long enough," said LaMalfa. Many more fire victims are struggling to do the same. https://santarosapressdemocrat-ca.newsmemory.com/?token=CRID_john.stalcup@sbcglobal.net_26654&message_id=22606q2IXHqZd6krXsywJL3uC1IEx3QU&utm_source=emailMarketing&utm_medium=email&utm_campaign=email+stats, (14) https://www.counties.org/sites/main/files/file-attachments/inverse_condemnation_fact_sheet_league__csac.pdf, (15) https://www.firevictimtrust.com/Docs/FAQs.pdf, (16) https://www.sfchronicle.com/business/article/PG-E-victims-lawyer-scrutinized-over-Wall-15241511.php#:~:text=San%20Antonio%20lawyer%20Mikal%20Watts,that%20became%20public%20days%20earlier, (17) https://krcrtv.com/north-coast-news/eureka-local-news/judge-refuses-to-approve-fire-victims-letter-attacking-pge-04-09-2020, (18) https://www.reinsurancene.ws/pge-pays-11bn-settlement-to-re-insurers-joins-wildfire-fund/, (19) https://www.firevictimtrust.com/Docs/Trustee_Response_to_5-28-22_Editorial.pdf, Ramona D. ElliotDirector, United States Trustee Program, https://www.kqed.org/news/11891626/hedge-funds-cash-out-billions-in-pge-stock-fire-survivors-suffer-and-wait, https://www.insurancejournal.com/news/west/2022/05/06/666497.htm, Https://Inthesetimes.Com/Article/California-Fire-Victims-Awaiting-Payment-from-Utility-Company, https://inthesetimes.com/article/california-fire-victims-awaiting-payment-from-utility-company, https://www.capradio.org/articles/2021/05/17/a-cascade-of-outrage-follows-investigation-into-pge-fire-victim-trust-expenses/, Https://Leginfo.Legislature.ca.Gov/Faces/billTextClient.Xhtml?bill_id=201920200AB1054, https://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=201920200AB1054, https://abc7news.com/pg-e-fire-victims-victim-trust-fund-ca-wildfire-not-paid-taxpayer/11593929/, https://www.kqed.org/news/11851347/pge-bankruptcy-yields-700-million-legal-fee-bonanza-for-wall-street-firms, Https://Www.Pbs.Org/Newshour/Show/Most-Fire-Victims-Are-Still-Waiting-to-Be-Paid-by-Pges-Fire-Victim-Fund-Investigation-Finds, https://www.pbs.org/newshour/show/most-fire-victims-are-still-waiting-to-be-paid-by-pges-fire-victim-fund-investigation-finds, https://www.sfchronicle.com/bayarea/article/They-need-help-now-In-Gold-Country-PG-E-16407001.php, https://santarosapressdemocrat-ca.newsmemory.com/?token=CRID_john.stalcup@sbcglobal.net_26654&message_id=22606q2IXHqZd6krXsywJL3uC1IEx3QU&utm_source=emailMarketing&utm_medium=email&utm_campaign=email+stats, https://www.counties.org/sites/main/files/file-attachments/inverse_condemnation_fact_sheet_league__csac.pdf, https://www.firevictimtrust.com/Docs/FAQs.pdf, https://www.sfchronicle.com/business/article/PG-E-victims-lawyer-scrutinized-over-Wall-15241511.php#:~:text=San%20Antonio%20lawyer%20Mikal%20Watts,that%20became%20public%20days%20earlier, https://krcrtv.com/north-coast-news/eureka-local-news/judge-refuses-to-approve-fire-victims-letter-attacking-pge-04-09-2020, https://www.reinsurancene.ws/pge-pays-11bn-settlement-to-re-insurers-joins-wildfire-fund/, https://www.firevictimtrust.com/Docs/Trustee_Response_to_5-28-22_Editorial.pdf. Claimants (or their lawyers, if represented) can access their confidential claims information, notices, and other program materials by logging into their secure Portal account here. The new payout, effective Feb. 15, will allow victims to gain 45% of claim value, instead of the current 30%. Https://Inthesetimes.Com/Article/California-Fire-Victims-Awaiting-Payment-from-Utility-Company Retrieved June 5, 2022, from https://inthesetimes.com/article/california-fire-victims-awaiting-payment-from-utility-company, (4) Jamali, L. J. Her office says it's currently in the Finance Committee. As you know, you approved Judge Montali's settlement plan which does not compensate us fairly. They now collectively own almost a quarter of the companys shares. Director Ward is one of the nations foremost emergency managers with broad experience working at @DHSgov @fema @FEMARegion9 as well as Cal OES. Im pleased that the Trust is able to start making substantial pro rata payments in what has been a relatively short period of time by any bankruptcy settlement standard. The victims stake has fallen in value to around $4 billion. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. Read the responses, , the Trust sent letters in support of H.R. Whether you are traveling, We support the Federal Insurance Office in their efforts to gather national data to get a clear picture of how insurers are adapting their operations in response to climate change, and how their actions are impacting property insurance affordability and availability across the nation.. Again, the majority of wildfire victims had been waiting 3 to 6 years (in our case 3 years) and his words fair settlement in a reasonable amount of time washed over us like a long-awaited shower after being stranded in the wildfire jungle for years. To the supervisors' points, it is clear that the excruciatingly slow processing of claims that we victims have suffered through for years demonstrates that the deal that Judge Montali helped craft and approve, and his long-term colleague and fellow octogenarian, Trustee Trotter, is overseeing, and which Gov. He pointed out that more than 85% of the victims voted for the plan, and on July 1, 2020, when the utility emerged from bankruptcy, paid $6.75 billion in cash and delivered 478 million shares of PG&E stock to the trust. No victims are on the committee. The FVT laid the groundwork for releasing pro rata payments in mid-February when it began sending Claims Determination Notices to Fire Victims whose claims had been fully processed and evaluated. Https://Www.Pbs.Org/Newshour/Show/Most-Fire-Victims-Are-Still-Waiting-to-Be-Paid-by-Pges-Fire-Victim-Fund-Investigation-Finds Retrieved June 5, 2022, from https://www.pbs.org/newshour/show/most-fire-victims-are-still-waiting-to-be-paid-by-pges-fire-victim-fund-investigation-finds, (9) Trust Distributed $1.69B to PG&E California Fire Victims in 2021. Many, many thanks., The disaster recovery resources you provided helped many individuals and families., Certificate of Appreciation in recognition of your outstanding contributions to the Third Supervisorial District and the County of San Diego., (United Policyholders) provided helpful insights into the state of the current insurance market for earthquake, fire and flood coverage, and the critical rile insurance plays in the ability of our communities recover from such catastrophic events. Sign up for NBC Bay Areas Housing Deconstructed newsletter. (1,2,5,13), The Sting - The PG&E U.S. Bankruptcy and PG&E Fire Victim Trust, This petition addresses how the unbridled power of the U.S. Bankruptcy system and its Judge (Dennis Montali), Wall Streets Hedge Fund Managers, Pacific Gas & Electric corporation (the largest U.S. public utility) and its lawyers, insurance companies and governments and victims lawyers worked together and/or independently to financially dominate and become the largest beneficiaries of the $55 billion PG&E wildfire bankruptcy payouts. Fire Victim Trust to Increase Pro Rata Payments to California Fire Survivors From 45% to 60% Based on Recent Stock Sales. Landslide Debris Cancels ACE Train Service Through Niles Canyon, Water Agencies Seek Solution to Unhoused Residents Living in Creek Beds, Man Accused in Wife's Murder Made Shocking Google Searches in Days After Her Disappearance, Michigan Family Gets Life in Prison for Killing Family Dollar Guard Over Face Mask Dispute, SF Residents Give City Officials Earful About Increase in Crime, Decrease in Quality of Life, Rain Wednesday Will Add to Historic Wet Period in Bay Area. I have tried to work cooperatively with the Trustee while pressing for payments to be expedited with greater transparency and accountability, he said in the statement to this newspaper. Hedge Funds Cash Out Billions in PG&E Stock. On November 15, 2022, the Trustee posted responses to fire survivors' questions submitted during a recent meeting hosted by Sonoma County Supervisors Susan Gorin and James Gore. Gavin Newsom and U.S. Bankruptcy Judge Dennis Montali and is being implemented by PGE Fire Victim Trust Trustee John Trotter who suddenly retired this week. "Fire victims have lost homes, belongings, and for some, even their loved ones," said LaMalfa (R-Richvale), who co-introduced the bipartisan legislation. hbbd```b``3@$SXd:L|:TJ D2E,yd2c4(SGX&>`YZL L`]df|0 ` In addition to ensuring survivors would not be taxed on trust payments, the new law includes a provision exempting attorneys' fees from taxation to ensure that recipients of PG&E funds do not pay taxes on lawyers they did not hire. Today @GavinNewsom announced Nancy Ward as the next Director of Cal OES. PGE Fire Victim Trust (Well-Paid) Bureaucracy, At the top of the fee food-chain heap is, of course, the Fire Victim Trust managers (i.e., the Trustee (John Trotter), the Manager (Cindy Yanni), and the Special Master (Ellen Sickle James) who are reported to earn make $125,000, $200,000 and $176,000 per month, respectively. 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