A court has approved Pacific Gas & Electric¢¥s (PG&E) $23 billion dollar bankruptcy financing package. The company¢¥s plan to raise the money to get out of bankruptcy was approved on Monday.

PG&E filed for bankruptcy protections last year, after its equipment was linked to multiple destructive wildfires in California in 2017 and 2018. The California governor rejected the plan at first; however, he changed his mind when the company attracted investors to buy up billions of dollars in company stock.

PG&E needs the money to help it pay off settlements with wildfire victims, insurers and government agencies.

Difficult words: bankruptcy (a situation in which a business or a person becomes unable to pay debts), stock (parts of the ownership of a company that people can buy), settlement (an official payment of money that helps end an argument or conflict).