The Fire Victim Trust was established in 2020 from the bankruptcy of PG&E to offer an efficient and equitable claim review process to compensate Fire Victims for damages caused by the 2015 Butte, 2017 North Bay, and 2018 Camp Fires.

Secondary

Helping people rebuild their lives

The Fire Victim Trust was established in 2020 from the bankruptcy of PG&E to offer an efficient and equitable claim review process to compensate Fire Victims for damages caused by the 2015 Butte, 2017 North Bay, and 2018 Camp Fires. Secondary

Latest Progress

Last updated on May 31, 2024

Total Payments and Awards

71,801 (100%)

40,413 (100%)

40,152 (99%)

$19.34 billion

$12.42 billion

Submitted Claims Questionnaires

CQs submitted as of 5/31/24 (40,413)

Claimants with Submitted Claims Questionnaires (CQs)

71,801

Submitted CQs

40,413

Claims Asserted

254,829

Claimants with Determination Notices

71,801 (100%)

CQs with Determination Notices Issued

40,413 (100%)

CQs with Accepted Determination Notices

40,152 (99%)

Paid Claimants

62,041 (86%)

Amount Paid

$12.42 billion

Amount Awarded

$19.34 billion

A Message from Trustee Cathy Yanni

June 5, 2024
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There is a lot of misinformation circulating about the Fire Victim Trust, and I’d like to address it directly. The top issue of concern is the concept that Fire Victims were supposed to be paid “100 percent” of the value of their losses. This is incorrect. If there was sufficient money to pay everyone in full, PG&E would not have filed for bankruptcy.

The Fire Victim Trust was created out of PG&E’s bankruptcy. It is a limited fund, meaning it has finite money. To guarantee fairness and equal treatment in the distribution of those limited funds, bankruptcy rules require that all eligible claimants receive the same percentage of their award amount. No matter whether yours is the first claim to receive a notice or the last one, you will receive the same percentage of your award amount as everyone else. This is what we mean when we talk about pro rata payments. The Court, Judge Montali, and the Trust never said that Fire Victims would be paid 100% of their proven losses.

We have monetized all of the PG&E stock held by the Trust. We timed these stock sales advantageously resulting in a gain of $750 million more than the $13.5 billion amount originally contemplated. Accordingly, there is no shortfall or gap in the Trust’s funding. As we close out the remaining claims, we continue taking steps to maximize the recovery available to fire survivors. Given the limited funds available in bankruptcy, no claimant should expect to receive 100% of their claim award. Instead, each claimant will receive the same pro rata share of their proven recovery, as required by bankruptcy rules.

Another continuing area of misinformation involves the releases. Before the Trust was created in July 2020, the Bankruptcy Court approved a comprehensive Plan of Reorganization that mandated, in part, that each Fire Victim Claimant execute two releases – either an Individual Release or Entity Release (depending on Claimant type) and an Insurance Mutual Made Whole Release. To date, we have received both releases from over 90% of all eligible claimants.

To complete the work of the Trust, we are implementing a release submission deadline for the remaining 10% of claimants. Claimants who do not submit completed, signed releases by August 15, 2024, will not be able to receive any further distributions from the Trust. The Trust’s public website includes FAQs (here) regarding the release requirements and submission process.

As of June 1, 2024, 99% of all Claims Questionnaire determinations have been finalized, and the Trust has paid $12.42 billion to claimants. We continue working with law firms and pro se claimants to complete the remaining claims, collect the required releases, and approve Minor’s Compromises.

Thanks,

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Cathy Yanni



Latest Trust Updates

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Continuing the push for tax relief for fire survivors, Trustee Yanni wrote to Senator Crapo requesting support for H.R. 7024, which would amend the IRS Code of 1986 and would exclude qualified wildfire relief payments from gross income.

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Trustee Cathy Yanni announces a pro rata payment percentage increase to 66%. This increase is possible following two major milestones: a 97% acceptance rate as of March 2024 and the Trust’s final sale of PG&E stock in December 2023.

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Following up on support for previous tax relief legislation, Trustee Yanni sent letters requesting support for H.R. 7024, which would amend the IRS Code of 1986 and would exclude qualified wildfire relief payments from gross income.

Contact Us

If you need assistance with questions related to the Fire Victim Trust, use one of the following methods to contact the Claims Processor for the Fire Victim Trust.

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Mail
Fire Victim Trust
P.O. Box 25936
Richmond, VA 23260

Important: The contact information and methods listed on this page are for communications with the Claims Processor for the Fire Victim Trust. Kroll Restructuring Administration (formerly Prime Clerk) is the claims and noticing agent in the PG&E Bankruptcy Cases responsible for filing Proof of Claim forms with the Bankruptcy Court. Kroll is not responsible for receiving and processing information related to your Fire Victim Trust claims.

 
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