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Settlements approved in PG&E's bankruptcy case are not pleasing all involved parties, with attorneys questioning why wildfire victims are receiving some compensation in the form of company stock. 

U.S. Bankruptcy Judge Dennis Montali at a hearing on Dec. 17 approved two large Pacific Gas & Electric proposed settlement agreements—one with wildfire victims for $13.5 billion and the other with insurance claim holders for $11 billion. The judge's approval decreases the chances that a competing plan to take control of PG&E—proposed by a group of the utility's bondholders—will survive to the end of the bankruptcy process, according to representatives of the bondholders.

PG&E's $13.5-billion proposal includes language that would "lock up" its settlement with wildfire victims and "bind the settlement parties to an unconfirmable [AB 1054] plan," Gregory Bray, a lawyer for the official committee of unsecured creditors, said.

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