PG&E agrees $1 billion settlement for fires with law firm Baron and Budd

A US law firm has agreed a $1 billion settlement with PG&E following losses from the 2015 Butte Fire, 2017 North Bay Fires, and 2018 Camp Fire.

Baron and Budd are representing 14 public entities claiming for taxpayer losses caused by the fires. Payments have been agreed as part of a plan which PG&E will file in its pending Chapter 11 case.

However, this plan remains subject to confirmation. This settlement does not affect the claims of any residents, individuals, or businesses affected by the fires.

Baron and Budd shareholders Scott Summy and John Fiske were lead counsel for all 14 public entities and more than 30 California public entities. Dixon Diab & Chambers, a firm specializing in wildfire litigation, also represented the public entities.

“This money will help local government and taxpayers rebuild their communities after several years of devastating wildfires,” said Summy. “The cities and counties will be in a better position to help their citizens rebuild and move forward.”

Fiske added: “PG&E’s new board appears ready to look forward by resolving these important taxpayer claims for the benefit of the communities. Our clients want to rebuild and focus on prevention, mitigation, and safety into the future.”