PG&E Gains Court Approval for Settlement With Wildfire Victims

Bankrupt utility giant PG&E Corp. won court approval for its $13.5 billion plan to compensate the victims of catastrophic fires blamed on its equipment, as a well as a deal with insurers.

Judge Dennis Montali’s ruling is a major victory for PG&E. The company has spent months trying to gain support for a viable restructuring plan so it can emerge from the biggest utility bankruptcy in U.S. history by a state-imposed deadline of June 30, 2020.

The company filed for Chapter 11 in January after its power lines were tied to deadly blazes that erupted across Northern California in 2017 ...