I would need a lot more info before I could form an opinion.News reports Xcel admits their equipment started the largest wildfire in Texas history. People, property, and livestock were destroyed. The same sort of thing put PG&E into receivership in California. What do you think should happen to Xcel?
You think the entire company should be put into receivership over a fallen SPS utility pole?!?
After several hundred lawsuits are filed, they will file bankruptcy, then all the suits will be consolidated, under a special master who will conduct case in Federal Court. The Insurance Carrier will tender their limits to the Court, figure $5 million. The Excess Carrier will then tender their limits, figure $10 million. All parties not made part of the suit by a cutoff date, will be excluded from recovery.I'm sure they have insurance for this kind of stuff.
Lining the lawyer/yuppy scum pockets the whole way (suggest a read up on B&W burying TONS of Plutonium, in 55gal. drums, in Apollo, Pa....the victims, several generations of the highest concentration of radioactively induced cancer in juveniles..globally...aside from nuclear blast site....the survivors got like $100 or $150 ...each...some parents had buried ALL of their children)After several hundred lawsuits are filed, they will file bankruptcy, then all the suits will be consolidated, under a special master who will conduct case in Federal Court. The Insurance Carrier will tender their limits to the Court, figure $5 million. The Excess Carrier will then tender their limits, figure $10 million. All parties not made part of the suit by a cutoff date, will be excluded from recovery.
The special master will verify if the defendant has any asset which they can contribute that will not jeopardize their ability to function as power supplier. Those assets, if any will be added to the pot. The special master will then conduct endless hearings and mediations to establish how best to dispense the funds to the plaintiffs.