BUTTE COUNTY, Calif. - PG&E, a $71-billion company, now faces as much as $60 billion in lawsuits from the Camp Fire.
Many Camp Fire survivors who have filed lawsuits against the utility are wondering what this bankruptcy will mean for them.
Action News Now spoke with Attorney Robert Jackson who represents hundreds of homeowners, professionals and business owners who lost everything.
Jackson says the bankruptcy filing will mean survivors will have to wait.
"[There will be] additional time, a lot of additional work and a lot of additional expense," he said. "But I believe eventually, all the victims will be compensated."
Some have questioned PG&E's concern with its customers compared to its shareholders.
"you know, the message to customers is really bad here," said Mindy Spratt of the utility reform network. "It's that, we're more concerned with our shareholders than we are with how high your bills go. We are going to do our best to make 'em higher."
As part of the filing, PG&E will ask that $130 million in bonuses be given to PG&E employees.
The utility has also asked the bankruptcy court to allow the company to continue paying employees' salaries and Jackson says the bankruptcy will add anywhere from 1-3 years to the process.