Lawyers urge judge to reduce govt agencies’ claims ...

BUSINESS

ARAB TIMES, FRIDAY-SATURDAY, JANUARY 3-4, 2020

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Lawyers urge judge to reduce govt agencies' claims

Financial tug-of-war emerges over fire victims' deal

SAN FRANCISCO, Jan 2, (AP): A financial tug-of-war is emerging over the $13.5 billion that the nation's largest utility has agreed to pay to victims of recent California wildfires, as government agencies jockey for more than half the money to cover the costs of their response to the catastrophes.

Pacific Gas & Electric declared bankruptcy nearly a year ago as it faced about $36 billion in claims from people who lost family members, homes and businesses in devastating wildfires in 2017 and 2018. The utility acknowledged its power lines ignited some of the fires.

Those claims were settled as part of the $13.5 billion deal that PG&E reached last month with lawyers representing uninsured and underinsured victims.

Meanwhile, insurers had been threatening to try to recover roughly $20 billion in policyholder claims that they believe they will end up

In this file photo, homes destroyed by a wildfire are seen from an aerial view in the Mary Lake Subdivision in Redding, California. (AP)

paying for losses from those fires. PG&E settled with the insurers for $11 billion.

PG&E must keep working on its broader bankruptcy exit plan to meet the approval of state regulators and a

bankruptcy judge by June, as planned.

In the meantime, the $13.5 billion settlement leaves open just how much would be used to compensate victims, their lawyers and federal and state agencies for the money they spent on rescue and recovery operations.

California state agencies said they're owed about $3.3 billion, and federal agencies including FEMA filed claims totaling $4.3 billion. The claims are not related to the $1 billion PG&E agreed in June to pay to 14 local governments to cover damages from wildfires caused by its equipment.

US attorneys and the California attorney general's office raised concerns in separate court filings last month about "potential unequal treatment of claims" and asked US Bankruptcy Judge Dennis Montali to clarify how the money will be divided. They also urged him to ensure that settlement amounts are governed

by neutral and experienced trustees. Lawyers for the fire victims,

meanwhile, have asked the judge to reduce the government agencies' claims and argued in one court filing that the California governor's office of emergency services can't recover the costs of carrying out public services such as response to fires.

Many victims dissatisfied with the settlement say giving money to the government agencies leaves little left to people who are still struggling to rebuild their lives.

"There's not enough money in there for everybody and yet there are too many hands in the pot," said Sasha Poe, who lost her house in 2018 when a fire killed 85 people and nearly wiped out the city of Paradise.

Some victims said they're upset that the settlement provides cash and PG&E stock to a trust, stretching out payments over a few years, while insurers will receive their settlement

in cash. "To me, they're taking care of

shareholders first and they want us to wait for payments," said Lisa Williams, who also lost her house in Paradise. She says a Facebook group she started for wildfire survivors concerned about the settlement has reached 800 members.

"Nobody expects to be made whole by this settlement ... but they ought to give the victims cash because they need it more immediately," she said. "People are still hurting. I know a woman whose house burned down ... she's living in a trailer with an autistic child and the generator and plumbing went out. She has no heat and water and she's freezing."

Attorneys for the victims said they hope to work out several key issues, including how the trust for the fire victims will be managed and the process for submitting claims, by the end of January.

This undated photo provided by Hyundai shows the 2017 Hyundai Elantra. Buyers looking to save some money can buy a used Elantra with the stan-

dard fuel-efficient four-cylinder engine. (AP)

This undated photo provided by Kia shows the 2020 Kia Telluride, a new three-row SUV. Most adults will have no problem fitting in the third row of

the Telluride, unlike many SUVs in the midsize class. (AP)

This undated photo provided by Jeep shows the 2020 Jeep Wrangler, an off-road-oriented SUV. Every Wrangler comes standard with four-wheel drive and plenty of ground clearance to aid with off-road adventure. (AP)

Choosing right vehicle presents a challenge

Best cars for achieving your New Year's resolutions

This undated photo provided by Mercedes-Benz shows the 2020 MercedesBenz A-Class. The A-Class provides a smooth and controlled ride and

quick acceleration when you put your foot down. (AP)

This undated photo provided by Mazda shows the 2019 Mazda MX-5 Miata, a small two-seat roadster. When the engineers designed this Miata generation, they wanted it to weigh the same as the first model that

debuted in 1990. (AP)

By Cameron Rogers

Today, people across the country will put their New Year's resolutions into practice. These goals represent an honest attempt at self-improvement, but they often fall apart as the year progresses. What if the next car you buy can help you get motivated? A new car to fit a resolution is a huge commitment, but it might just be the thing to (sometimes literally) drive you to your goal.

Here are the cars Edmunds believes will help achieve some of the most popular New Year's resolutions.

Lose Weight: 2019 Mazda MX-5 Miata Shedding those pesky holiday pounds is a common resolution, and few things inspire losing weight more than a tight fit. That's especially true for cars, which is why we recommend the 2019 Mazda MX-5 Miata. The Miata is a small roadster that recently underwent a diet of its own. When the engineers designed this Miata generation, they wanted it to weigh the same as the first model that debuted in 1990. Nimble handling and a peppy engine make the Miata fun to drive, but it's the compact cabin that provides the primary motivation for hitting the gym. The Miata is also well suited for resolvers tackling their weight loss journey with a buddy since the cramped two-seat interior will cause wider passengers to rub shoulders. Starting price (including destination and handling): $26,650 Be More Spontaneous: 2020 Jeep Wrangler Those looking to add more off-the-cuff adventure to their lives need a vehicle that is similarly ready to go at a moment's notice. The 2020 Jeep Wrangler embodies that spirit more than any other vehicle on sale today. Even though its on-road manners are unrefined com-

pared to modern crossover SUVs, the Jeep Wrangler offers unsurpassed capability when pavement turns to dirt.

Every Wrangler comes standard with fourwheel drive and plenty of ground clearance to aid with off-road adventure. Specialty models such as the Rubicon are equipped with specialized features to enhance the Wrangler's abilities further. Five passengers can get in on the muddy fun thanks to the four-door Wrangler Unlimited's ample rear legroom.

Starting price (including destination and handling): $29,790

Take More Family Vacations: 2020 Kia Telluride

It can be difficult getting the entire family on the same page for much-needed rest and relaxation. Even then, choosing the right vehicle to shuttle everyone around presents a challenge. Edmunds' suggestion is the 2020 Kia Telluride.

Most adults will have no problem fitting in the third row of the Telluride, unlike many SUVs in the midsize class. There's also room for everyone's luggage because the Telluride offers a useful amount of cargo space, even with the third-row seat deployed.

The Telluride can further incentivize you to head out for a trip thanks to its easy-driving nature. It doesn't feel overly large or bulky, and its V6 engine has no problem with launching you into quick-moving highway traffic. Your new family hauler won't cost an arm and a leg either because the Telluride is less expensive than similarly equipped competitors.

Starting price (including destination and handling): $32,785

Treat Yourself: 2020 Mercedes-Benz A-Class

Self-care has become a hot topic over the last few years, and if your budget can support it, a luxury car is a way to treat yourself day after

day. Edmunds recently named the 2020 Mercedes-Benz A-Class the top-rated luxury sedan. Mercedes' smallest four-door, which was introduced last year, provides a true luxury experience. The cabin materials are high-quality and rival those found in larger, more expensive sedans.

The A-Class also provides a smooth and controlled ride and quick acceleration when you put your foot down. Even an A-Class loaded up with premium features such as 64-color ambient lighting and premium audio are priced within reason.

Starting price (including destination and handling): $33,795

Save More Money: 2017 Hyundai Elantra Reducing expenses is one of the most popular resolutions, and shoppers looking for a new ride can save quite a bit by going with a slightly used car. In general, you can save 30% to 40% by going this route. Small cars, in particular, offer strong value. One of our favorites in the wallet-friendly compact segment is the current-generation Hyundai Elantra, which was introduced for the 2017 model year. Highlights include an unusually spacious cabin, comfortable seats and a user-friendly infotainment system. The 2017 Hyundai Elantra comes in a number of trims, starting with the SE. High-mileage used Elantras can be had for under $10,000. Models with moderate mileage and the desirable Popular Equipment package list for about $12,000. You'll save on fuel costs, too, since the standard 2.0-liter engine sips fuel at a rate of 32 mpg in combined city/highway driving, according to the EPA. Whether you're looking to lose weight, save money or take on new adventures, there are a variety of new and used cars to help you achieve your New Year's resolutions. (AP)

investment funds

Funds

Fund Manager

Valuation Valued date Currency Net Asset Prev NAV Prev NAV Dated

Value (NAV)

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

NBK CAPITAL

Money Market Funds Watani KD Money Market Fund II

Watani Invesment Company

Weekly

Dec 03, 2019 KD 1.083 1.082

Nov 26, 2019

Watani USD Money Market Fund

Watani Invesment Company

Weekly

Dec 03, 2019 USD 10.683 10.679

Nov 26, 2019

Watani KD Money Market Fund (Acc

to Islamic Shariah principles) II

Watani Invesment Company

Weekly

Dec 03, 2019 KD 1.081 1.080

Nov 26, 2019

Watani USD Money Market Fund (Acc

to Islamic Shariah principles) II

Watani Invesment Company

Weekly

Dec 03, 2019 USD 10.478 10.467

Nov 26, 2019

NBK Kuwait Equity Fund

Watani Invesment Company

Weekly

Dec 05, 2019 KD 0.846 0.812

Nov 21, 2019

Gulf Equity Investment Fund

Watani Invesment Company

Weekly

Dec 05, 2019 USD 12.902 12.882

Nov 21, 2019

Regional Bond and Sukuk Investment Fund Watani Invesment Company

Weekly

Dec 05, 2019 USD 11.488 11.437

Nov 21, 2019

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Gulf Bank

Al Basha'er GCC Equity Fund

Kwt. Fin. & Inv. Co. & Gulf Fin. House

Monthly

June 30, 2019 USD 7.907 7.701

May 31, 2019

Coast Fund

Coast Investment & Dev. Co.

Monthly

Aug 31, 2019 KD 0.826 0.817

June 30, 2019

Markaz Real Estate Fund

Bi-annual Sept 30, 2019 KD 1.339 1.341

Aug 29, 2019

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Al Ahli Bank

Al Ahli Gulf Fund

Al Ahli Bank

Monthly

Nov 01, 2019 KD 11.020 1.022

Oct 31, 2019

Al Ahli Kuwaiti Fund

Al Ahli Bank

Monthly

Nov 01, 2019 KD 0.882 0.878

Oct 31, 2019

Ahli International Multi-Asset Holding Fund Al-Ahli Bank

Monthly

Oct 31, 2019 KD 10.804 10.727

Sept 30, 2019

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Boubyan Bank Boubyan KD Money Market Fund II

Boubyan Bank

Weekly

Oct 22, 2019 KD 1.059 1.059

Oct 15, 2019

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Boubyan Capital Investment Co.

Boubyan USD Liquidity Fund

Boubyan Capital Investment Co

Weekly

Oct 22, 2019 USD 10.662 10.658

Oct 15, 2019

Boubyan Multi-Asset Holding Fund

Boubyan Bank

Monthly

Oct 31, 2019 USD 11.719 11.643

Sept 30, 2019

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Kuwait Investment Co.

Local Fund

Al Raed Fund

Kuwait Investment Co

Weekly

Nov 14, 2019 KD 1.097 1.000

Sept 30, 2019

Kuwait Investment Fund

Kuwait Investment Co

Weekly

Oct 31, 2019 KD 0.847 0.873

Sept 30, 2019

Al Hilal Fund

Kuwait Investment Co

Monthly

Nov 18, 2019 KD 0.883 0.881

Sept 30, 2019

Al Atheer Fund

Kuwait Investment Co

Weekly

Oct 31, 2019 KD 1.169 1.174

Sept 30, 2019

International

Diversified Fund

Kuwait Investment Co

Weekly

Oct 31, 2019 USD 21.180 20.600

Aug 30, 2019

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

National Investment Co. (NIC)

Al-Wataniya Fund

NIC

Monthly

Oct 31, 2019 KD 0.636 0.632

Sept 30, 2019

Al-Darij Fund

NIC

Monthly

Oct 31, 2019 KD 0.375 0.372

Sept 30, 2019

Mawarid Fund

NIC

Monthly

Oct 31, 2019 KD 0.459 0.478

Sept 30, 2019

Zajil Fund

NIC

Monthly

Oct 31, 2019 KD 0.767 0.792

Sept 30, 2019

Al Mada Investment Fund

NIC

Weekly

Oct 31, 2019 USD 0.822 0.843

Sept 30, 2019

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Kuwait Financial Centre (Markaz)

Mumtaz Fund

Kuwait Financial Center

Weekly

Oct 10, 2019 KD 4.985 4.948

Sept 30, 2019

MIDAF

Kuwait Financial Center

Weekly

Oct 10, 2019 KD 3.786 3.760

Sept 30, 2019

Islamic Fund

Kuwait Financial Center

Weekly

Oct 10, 2019 KD 1.831 1.814

Sept 30, 2019

FORSA Financial Fund

Kuwait Financial Center

Monthly

Aug 31, 2019 KD 1.268 1.318

July 31, 2019

Funds

Fund Manager

Valuation Valued date Currency Net Asset Prev NAV Prev NAV Dated

Value (NAV)

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Real Estate Fund

Kuwait Financial Center

Kuwait & Middle East Financial & Inv. Co.

Monthly

Oct 31, 2019 KD 1.338 1.339

Sept 30, 2019

Al Rou'yah Fund

KMEFIC

Monthly

Oct 31, 2019 KD 1.389 1.389

Sept 30, 2019

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Global Investment House

Index Funds

Global Premier Market Index Fund

Global

Weekly

Dec 05, 2019 KD 1.760 1.643

Oct 31, 2019

Equity Funds

Al-Mamoun Fund A Al-Mamoun Fund B

Global Global

Weekly Weekly

Nov 28, 2019 KD Nov 28, 2019 KD

0.855 0.823 0.855 0.823

Oct 31, 2019 Oct 31, 2019

GCC Large Cap Fund

Global

Weekly

Nov 26, 2019 USD 171.829 169.560

Nov 05, 2019

Global Saudi Equity Fund

Global

Biweekly

Dec 03, 2019 SAR 265.948 265.200

Nov 05, 2019

Sectoral Funds

EPADI Fund

Global

Weekly

Nov 05, 2019 USD 91.800 94.486

Sept 24, 2019

Islamic Funds

Global GCC Islamic Fund

Global

Weekly

Nov 05, 2019 USD 109.130 110.736

Oct 01, 2019

Al-Durra Islamic Fund

Global

Weekly

Oct 31, 2019 KD 1.492 1.446

Oct 03, 2019

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Kuwait Finance & Investment Co (KFIC)

Al Wasm Fund

KFIC

Weekly

Oct 06, 2019 KD 0.512 0.519

Oct 09, 2019

Al Basha'er GCC Equity Fund

KFIC

Monthly

June 30, 2019 USD 7.907 7.701

May 31, 2019

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

KAMCO

KAMCO Investment Fund KAMCO Real Estate Yield Fund

KAMCO KAMCO

Monthly Monthly

Sept 30, 2019 KD 1.392 1.515 Oct 31, 2019 USD 8.910 8.840

July 31, 2019 July 31, 2019

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Wafra International Investment Co.

Wafra Equity Fund

Wafra Co.

Monthly

Oct 31, 2019 KD 1.030 0.995

Sept 30, 2019

Wafra Bond Fund

Wafra Co.

Monthly

Oct 31, 2019 KD 1.045 1.042

Sept 30, 2019

Masaref Investment Fund

Wafra Co.

Weekly

Oct 31, 2019 KD 1.196 1.221

Sept 30, 2019

Fajir Islamic Fund

Wafra Co.

Monthly

Oct 31, 2019 KD 0.838 0.826

Sept 30, 2019

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Al-Tharwa Investment Co.

Tharwa Investment Fund

Tharwa Investment Co

Weekly

Oct 31, 2019 KD 1.021 1.024

Oct 03, 2019

Tharwa Islamic Fund

Tharwa Investment Co

Weekly

Oct 31, 2019 KD 0.685 0.687

Oct 03, 2019

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Bank Al-Bilad Al Seef Fund

Bank Al-Bilad

Daily

Nov 10, 2019 KD 0.501 0.497

Nov 03, 2019

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Commercial International Bank

CIB Money Market Fund (Osoul)

CI Asset Management

Weekly

Nov 27, 2019 EGP 408.460 406.720

Nov 14, 2019

CIB II Equity (Isthethmar)

CI Asset Management

Weekly

Nov 27, 2019 EGP 195.410 203.170

Nov 14, 2019

CIB and Faisal Islamic Al Aman Hemaya

CI Asset Management CI Asset Management

Weekly Weekly

Nov 27, 2019 EGP 102.940 107.350 Nov 03, 2019 EGP 237.820 236.100

Nov 14, 2019 Oct 01, 2019

Thabat

CI Asset Management

Weekly

Nov 27, 2019 EGP 277.090 274.540

Nov 14, 2019

Takamol

CI Asset Management

Weekly

Nov 27, 2019 EGP 186.370 190.760

Nov 14, 2019

Misr El Mostakbel

CI Asset Management

Weekly

Nov 24, 2019 EGP 23.510 24.760

Nov 11, 2019

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

KFH Capital

KFHC GCC Equities Fund

KFH Capital Investmen Co

Daily

Apr 30, 2019 KD 0.824 0.797

Mar 31, 2019

KFH Capital Investment Co

KFH Capital Investmen Co

Daily

Nov 30, 2018 KD 0.407 0.406

Oct 31, 2018

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