© Reuters. FILE PHOTO: A PG&E truck carrying an American Flag drives past PG&E repair trucks in Paradise

(Reuters) – Power producer PG&E Corp will propose a $31 billion bankruptcy restructuring plan that will include two funds worth a total of $34 billion to cover past and future wildfire claims, Bloomberg reported https://twitter.com/scottdeveau/status/1142117995680030720 on Friday.

San Francisco-based PG&E sought Chapter 11 bankruptcy protection in January after facing liabilities of more than $30 billion in the wake of Camp Fire, California’s deadliest and most destructive wildfire in recent times.

The company did not respond to a Reuters request for comment.

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2019-06-21