Hedge funds add another $1.5 billion for California wildfire victims in PG&E takeover war
In a filing Wednesday in
Of that,
That represents an additional
The victims and insurers wouldn't get paid all in cash. Instead, they'd receive a 50-50 mix of cash and stock and would end up owning about 40 percent of
Last week the bondholders struck an alliance with the official committee representing wildfire victims in the bankruptcy case. That agreement could prove crucial as the bondholders attempt to gain momentum for their takeover bid. Thousands of Northern Californians suffered damages in the 2015 Butte Fire in the foothills east of
The bondholders' offer to insurance companies matches the
Nonetheless,
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