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Saturday, May 18, 2024

Camp Fire PG&E settlement concerns

Credit: KHSL
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Camp Fire PG&E settlement concerns
Camp Fire PG&E settlement concerns

Some people say they feel the settlement is unfair and feel pressured to vote yes, and others are in favor of the agreement and just want to move forward.

As pg&e climbs out of bankruptcy - some camp fire survivors say they're feeling pressured to accept the latest settlement.

Action news now's christina vitale is live in paradise, christina, what is it about the offer that has some people concerned?

Some people tell me they feel the settlement is unfair and feel pressured to vote yeãbut others tell me they're in favor of the agreement and just want to move forward.

Lyons: i voted yes linda horton- lyons lost her home in magalia from the camp fire stuart glass: i voted no stuart glass from magalia lost his home as well glass: the amount of research i've done and looking at the plan i think its ridiculous glass: i feel pressured and victimized because constant radio shows from joe earley pushing a yes vote from text messages and emails all sorts of ways pushing yes votes for an unfair settlement for fire victims joe earleyã attorney from paradise: there's all these things that maybe could happen but you cant bank on that and im sure not going to advise my clients to jump into the darkness we have something that's solid and enforceable stuart says he's most concerned about pg&e's 13.5 billion dollar settlement being half cash half stock.

Stuart: the stock portion will be sold in late payments at which will be at either months even years.

Earley: the big issue is well not all of it is cash its stocks and stocks can go down true stocks can go up..

Me: is there another alternative if this agreement doesn't go through that's all cash?

Earley: no no no if there was we would support it stuart: the lawyers are going to get their thirty three percent up front first..

Earley: that's not how it works its never how it works the lawyers get paid only when their clients get paid we get paid a portion of it we don't know how much it'll be necessarily but it'll never be before them earley says they have about 70 thousand claims against pg&eã and about 30 thousand of those survivors have voted yes.

Lyons: the lawyers did their due-diligence and really strove to get this done as quickly as possible lyons says she's comfortable with the settlement knowing the safety net of back up financers if pg&e can't pay.

Lyons: but they have to come up with the 13.5.

Million dollar plus 60 billion to get them out of bankruptcy there's no money there and theres a timeline that we have to meet earley: there is no other plan and we have to get out of this bankruptcy by june 30th or there is no protection for future wildfires stuart: you're supposed to trust your attorneys they're supposed to be your friend in a lawsuit when they give you a strong recommendation to vote yes you'll probably say yes but the problem is theres so many documents out there people don't do their own research that they don't want to put in the effort to make their own assumption on the vote they need to make.

Earley is a camp fire survivor and lost his home alongside the thousands of others.

Earley:i understand people want more i would love more too but you can only get so much blood out of a rock linda: if we don't do this we will lose the window of opportunity to get back up on our feet.

A pg&e and a spokesperson says they are focused on getting victims paid fairly as soon as possible.

Live in paradise, christina vitale action news now coverage you can count on pg&e needs two- thirds of the votes of abotu 70-thousand victims -- by may 15th if it wants this deal to be approved.

If they don't get that -- pg&e might not be able to resolve its bankruptcy by june 30.#

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