Butte Fire

Fire Victim Trust to Increase Pro Rata Payments to California Fire Survivors to 66%

Retrieved on: 
Tuesday, March 12, 2024
Public Policy, Government, Legal, Natural Disasters, Utilities, Environment, State, Local, Energy, Professional Services, Bankruptcy, PG&E, Camp Fire (2018), Sale, Butte Fire, Death, Trust, United States bankruptcy court, Corporate action, Survivor, Fire, Medicine, FVT, Trustee, Campfire

Cathy Yanni, Trustee of the Fire Victim Trust (FVT), announced a pro rata payment increase from 60 percent to 66 percent effective April 25, 2024.

Key Points: 
  • Cathy Yanni, Trustee of the Fire Victim Trust (FVT), announced a pro rata payment increase from 60 percent to 66 percent effective April 25, 2024.
  • “With $1.2 billion in additional liquidity from our final stock sales and 97% of claims now accepted and final, we are confident we can safely increase the pro rata payment percentage for all fire survivors by six percent,” said Cathy Yanni.
  • The FVT was created in July 2020 and funded with both cash and shares of stock pursuant to PG&E’s Chapter 11 Plan of Reorganization.
  • The Fire Victim Trust evaluates, administers, processes and resolves eligible claims arising from the 2015 Butte Fire, 2017 North Bay Fires, and 2018 Camp Fire.

Fire Victim Trust Announces Sale of Remaining 67.7 Million Shares

Retrieved on: 
Wednesday, December 13, 2023
Professional Services, Utilities, Other Natural Resources, Public Safety, Energy, State, Local, Natural Resources, Environment, Other Policy Issues, Insurance, Natural Disasters, Public Policy, Government, Camp Fire (2018), Sale, United States bankruptcy court, Butte Fire, FVT, Campfire, Trust, Trustee, Death, Corporate action, PG&E, Medicine, Fire, Bankruptcy

The Fire Victim Trust (FVT) announced today the sale of the final 67.7 million shares of PG&E stock remaining in the Trust as it continues fulfilling its mission to compensate the victims of fires in Northern California from 2015 to 2018.

Key Points: 
  • The Fire Victim Trust (FVT) announced today the sale of the final 67.7 million shares of PG&E stock remaining in the Trust as it continues fulfilling its mission to compensate the victims of fires in Northern California from 2015 to 2018.
  • At that time, 476,995,175 shares of common stock were transferred to the Trust.
  • The Fire Victim Trust evaluates, administers, processes, and resolves eligible claims arising from the 2015 Butte Fire, 2017 North Bay Fires, and 2018 Camp Fire.
  • To date, the Fire Victim Trust has disbursed $10.8 billion to fire victims.

PG&E Fire Victim Trust Announces Sale of an Additional 60 million Shares of PG&E Stock

Retrieved on: 
Friday, July 14, 2023
Public Policy, Government, Other Natural Resources, State, Local, Utilities, Energy, Natural Resources, Butte Fire, Bankruptcy, FVT, Trust, Fire, PG, Bangladesh Securities and Exchange Commission, Sale, Medicine, United States bankruptcy court, Trustee, PG&E, Death, Corporate action, Campfire, Camp Fire (2018), Insurance

The PG&E Fire Victim Trust (FVT) announced today the sale of 60 million shares of PG&E stock as it continues fulfilling its mission to compensate the victims of fires in Northern California from 2015 to 2018.

Key Points: 
  • The PG&E Fire Victim Trust (FVT) announced today the sale of 60 million shares of PG&E stock as it continues fulfilling its mission to compensate the victims of fires in Northern California from 2015 to 2018.
  • The FVT was created in July 2020 and funded with both cash and shares of stock pursuant to PG&E’s Chapter 11 Plan of Reorganization.
  • At that time, 476,995,175 shares of common stock were transferred to the Trust.
  • The Trust now holds 67,743,590 shares of PG&E stock following this most recent sale.

PG&E Fire Victim Trust Announces Sale of the Next Group 60 million Shares of PG&E Stock

Retrieved on: 
Thursday, April 13, 2023
Finance, Utilities, Professional Services, Public Policy, Government, Energy, Forest Products, State, Local, Other Policy Issues, Natural Resources, Butte Fire, Bankruptcy, FVT, Trust, Fire, PG, Bangladesh Securities and Exchange Commission, Sale, Medicine, United States bankruptcy court, Trustee, PG&E, Death, Corporate action, Campfire, Camp Fire (2018)

The PG&E Fire Victim Trust (FVT) today announced the sale of 60 million shares of PG&E stock as it continues its work to compensate the victims of fires in Northern California from 2015 to 2018.

Key Points: 
  • The PG&E Fire Victim Trust (FVT) today announced the sale of 60 million shares of PG&E stock as it continues its work to compensate the victims of fires in Northern California from 2015 to 2018.
  • The FVT was created in July 2020 and funded with both cash and shares of stock pursuant to PG&E’s Chapter 11 Plan of Reorganization.
  • At that time, 476,995,175 shares of common stock were transferred to the Trust.
  • The Fire Victim Trust evaluates, administers, processes and resolves eligible claims arising from the 2015 Butte Fire, 2017 North Bay Fires, and 2018 Camp Fire.

Fire Victim Trust Settles Vegetation Management Claims For $171m

Retrieved on: 
Thursday, March 23, 2023
Legal, Insurance, Natural Disasters, Utilities, Public Safety, Public Policy, Government, Energy, Professional Services, Other Natural Resources, Environment, Natural Resources, State, Local, Other Policy Issues, Butte Fire, FVT, Fire, PG, Tree, Medicine, Action, Trustee, Death, Campfire, Camp Fire (2018)

The Settling Vegetation Defendants deny the allegations in the Action and in the Individual Vegetation Contractor Lawsuits and deny any liability for the 2017 California North Bay Fires.

Key Points: 
  • The Settling Vegetation Defendants deny the allegations in the Action and in the Individual Vegetation Contractor Lawsuits and deny any liability for the 2017 California North Bay Fires.
  • The Fire Victim Trust evaluates, administers, processes, and resolves eligible claims arising from the 2015 Butte Fire, 2017 North Bay Fires, and 2018 Camp Fire.
  • To date, the Fire Victim Trust has disbursed $8.66 billion to Fire Victims.
  • For more information about the Fire Victim Trust, please visit www.firevictimtrust.com .

Fire Victim Trust to Increase Pro Rata Payments to California Fire Survivors From 45% to 60% Based on Recent Stock Sales

Retrieved on: 
Wednesday, January 11, 2023
Legal, Environment, Insurance, Natural Disasters, Utilities, Public Policy, Government, Professional Services, Energy, State, Local, Fire, FVT, PG&E, Pacific Gas and Electric Company, MM, Campfire, Camp Fire (2018), Death, Trustee, Bangladesh Securities and Exchange Commission, Bankruptcy, PG, Butte Fire, United States bankruptcy court, Trust, Sale, Corporate action, Distress, Security (finance)

Cathy Yanni, Trustee of the Fire Victim Trust (FVT), announced a pro rata payment increase from 45 percent to 60 percent effective January 31, 2023.

Key Points: 
  • Cathy Yanni, Trustee of the Fire Victim Trust (FVT), announced a pro rata payment increase from 45 percent to 60 percent effective January 31, 2023.
  • This increase was made possible by the Trust’s cumulative sales of 190 million shares of Pacific Gas & Electric (PG&E) stock since October 2022.
  • “With $2.82 billion in additional liquidity from our recent stock sales, we were confident we could safely increase the pro rata payment percentage for all Fire Victims,” said Cathy Yanni.
  • At that time, 476,995,175 shares of common stock were transferred to the Trust.

Fire Victim Trust Closes out 2022 With Major Wins for CA Fire Survivors

Retrieved on: 
Thursday, December 15, 2022
Professional Services, Utilities, Environmental Policy, Law Enforcement, Emergency Services, Energy, Other Construction & Property, State, Local, Public Policy, Construction & Property, Environment, Legal, Insurance, Public Policy, Government, Bankruptcy, PG&E, United States bankruptcy court, Trust, Personal injury, Distress, Sale, News, Death, FVT, Camp Fire (2018), AT, Adventist Health, Butte Fire, Fire, Comcast, MM, Campfire, Bangladesh Securities and Exchange Commission, Trustee, Life insurance

Cathy Yanni, the Trustee of the Fire Victim Trust (FVT), today announced three material developments in the administration of the trust that are significant wins for California fire survivors.

Key Points: 
  • Cathy Yanni, the Trustee of the Fire Victim Trust (FVT), today announced three material developments in the administration of the trust that are significant wins for California fire survivors.
  • On Monday, December 12th, given favorable market conditions, FVT sold 60 million PG&E shares to raise $908m for the Trust.
  • Finally, FVT achieved its goal for 2022 of issuing determination notices on 90% of claims questionnaires filed.
  • All of these developments mark real progress, and we hope the news will be well-received by fire survivors, said Cathy Yanni.

PG&E Fire Victim Trust Announces Sale of the Next Group of 35 million Shares of PG&E Stock

Retrieved on: 
Friday, October 28, 2022
Philanthropy, Law Enforcement, Emergency Services, Public Policy, Government, Other Philanthropy, Fund Raising, Foundation, United States bankruptcy court, PG, Trust, U.S. Securities and Exchange Commission, Death, Trustee, Bangladesh Securities and Exchange Commission, Butte Fire, PG&E, Distress, Camp Fire (2018), Fire, Campfire, Bankruptcy, Review, FVT, Personal injury, Sale, Corporate action, Insurance

The PG&E Fire Victim Trust (FVT) today sold 35 million shares of PG&E stock as it continues its work to compensate the victims of fires in Northern California from 2015 to 2018.

Key Points: 
  • The PG&E Fire Victim Trust (FVT) today sold 35 million shares of PG&E stock as it continues its work to compensate the victims of fires in Northern California from 2015 to 2018.
  • The FVT was created in July 2020 and funded with both cash and shares of stock pursuant to PG&Es Chapter 11 Plan of Reorganization.
  • At that time, 476,995,175 shares of common stock were transferred to the Trust.
  • The price at which PG&E stock traded today supported the sale of 35 million shares.

PG&E Fire Victim Trust Announces Sale of 35 million Shares of PG&E Stock

Retrieved on: 
Wednesday, October 5, 2022
Professional Services, Other Natural Resources, Public Policy, Other Policy Issues, Utilities, Natural Resources, Foundation, Public Policy, Government, Environment, Energy, Finance, Bankruptcy, Bangladesh Securities and Exchange Commission, Sale, Review, United States bankruptcy court, Distress, Corporate action, FVT, PG&E, Butte Fire, Trustee, PG, Trust, Death, U.S. Securities and Exchange Commission, Fire, Camp Fire (2018), Campfire, Life insurance

The PG&E Fire Victim Trust (FVT) today sold 35 million shares of PG&E stock as part of its work to compensate the victims of fires in California from 2015 to 2018.

Key Points: 
  • The PG&E Fire Victim Trust (FVT) today sold 35 million shares of PG&E stock as part of its work to compensate the victims of fires in California from 2015 to 2018.
  • On July 1, 2020, 476,995,175 shares of common stock were transferred to the Trust followed on August 3, 2020, with an additional 748,415 shares transferred.
  • When the Trust was created, it was funded half in cash, and half in PG&E stock.
  • The sale of stock ensures every victim will receive the same pro rata percentage as everyone else.

Fire Victim Trust Reports $117 Million Settlement of PG&E Directors & Officers Lawsuit

Retrieved on: 
Thursday, September 29, 2022
Energy, Legal, Climate Change, Public Policy, Other Policy Issues, Finance, Professional Services, Philanthropy, Other Natural Resources, Environment, Environmental Issues, Public Policy, Government, Natural Resources, Foundation, Utilities, Fire, Safety, Personal injury, Trustee, Bankruptcy, Review, FVT, McCarthy, Campfire, Camp Fire (2018), Leadership, PG&E, Butte Fire, Insurance, Trust, Distress, United States bankruptcy court, PG, Death, Life insurance

The Trust is required by a Bankruptcy Court order to use certain settlements to satisfy these federal agency claims.

Key Points: 
  • The Trust is required by a Bankruptcy Court order to use certain settlements to satisfy these federal agency claims.
  • The Fire Victim Trust evaluates, administers, processes and resolves eligible claims arising from the 2015 Butte Fire, 2017 North Bay Fires, and 2018 Camp Fire.
  • To date, the Fire Victim Trust has disbursed $4.9 billion to fire victims.
  • For more information about the Fire Victim Trust, please visit www.firevictimtrust.com.