Fire Victim Trust Settles Vegetation Management Claims For $171m
SAN FRANCISCO–(BUSINESS WIRE)–The Fire Victim Trust (FVT) announced today that it has reached a Settlement and Mutual General Release Agreement with defendants Western Environmental Consultants, LLC; ArborMetrics Solutions, LLC; Trees, LLC; and Utility Tree Service, LLC for vegetation management claims relating to the North Bay fires in California in October 2017.
FVT’s claims against the defendants emerged from PG&E’s bankruptcy plan in which certain rights and causes of action were assigned to FVT to recover additional funds for fire survivors. The defendants collectively will make a settlement payment to FVT of $171 million and as a condition of payment, FVT shall request a dismissal of legal actions against the defendants.
“We are happy to have reached a settlement in this matter. It is a sign of our continued progress in working to resolve derivative claims for the benefit of fire survivors,” commented Trustee, Cathy Yanni.
The claims resolved by the settlements are allegations only and there has been no determination of liability. 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:
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. Under the direction of the Trustee, the Fire Victim Trust provides an efficient and equitable process to review claims and compensate Fire Victims for both economic and noneconomic damages caused by these fires, including destruction or damage to real estate and personal property, additional living expenses, lost wages, business losses, personal injury or death and related medical expenses, and emotional distress. 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.
Steve Burns, Summit Strategy Group