I told the New York Times that PG&E filed bankruptcy not because it needed to but because it wanted to “use the bankruptcy rules to their benefit to limit their liability to victims.” And they have it as front page news today.
But it was back in January I told KRON4 the same thing. I explained that PG&E filed bankruptcy for one reason only — because it figured it could use the bankruptcy laws to hold on to more of its corporate profits at the expense of its victims.
They are doing this now because they have spent millions to determine what is the best scenario for the shareholders and they have found the best way for holding on to the most money and keeping it out of the hands of victims is bankruptcy,” said Danko.
Now the New York Times explains exactly how PG&E’s plan is panning out:
- PG&E has set up a claims deadline that is too short and too arbitrary for the victims to comply with;
- PG&E’s bankruptcy filing makes people think its not worth it to make a claim because PG&E doesn’t have money when it in fact does; and
- PG&E is allowing victims to believe (incorrectly) that they can’t get money from PG&E if they have received money from their insurance company.
The deadline for filing a claim is October 21. We’re hoping that the New York Times article encourages victims to step forward before the deadline and file a claim even if they are not sure about whether they are entitled to compensation.