A federal judge on Friday said he was approving a $58 billion plan by the nation’s largest utility to end a contentious bankruptcy saga that began after Pacific Gas & Electric’s outdated equipment ignited wildfires in California that killed more than 100 people, wiped out entire towns and led the company to confess to crimes driven by its greed and neglect.
The decision by U.S. Bankruptcy Judge Dennis Montali clears the way for PG&E to pay $25.5 billion for losses from devastating fires in 2017 and 2018. The judge said he will sign the formal order confirming PG&E’s plan late Friday or Saturday after the company’s lawyers make a few minor revisions worked out during a two-hour hearing.
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