California Governor Questions $11 Billion PG&E Insurance Deal


California Gov. Gavin Newsom questioned PG&E Corp.’s $11 billion settlement proposal for insurance losses tied to wildfires and said it could derail the utility’s bankruptcy exit strategy.

In a court filing on Saturday, the Democratic governor raised several objections to the proposed deal with insurance creditors after it emerged as a sticking point in negotiations to resolve PG&E’s massive debts and wildfire liabilities.

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