As many as 100,000 California residents who lost property, jobs and loved ones in fires linked to PG&E Corp. will get their day in court. It will be in bankruptcy court, where rules shield the utility giant from potentially crippling jury payouts.

PG&E isn’t broke. It is following the survival strategy used by other troubled companies to put a lid on damage claims. For victims, that amounts to a loss of negotiating power and likely means a fraction of the compensation they might receive in a jury trial.

California investigators have connected PG&E equipment to fires that killed more than 100 people, destroyed 26,000 buildings and burned at least 330,000 acres in 2017 and 2018. Lawyers for fire victims estimate that the utility, which filed for chapter 11 bankruptcy protection in January, is liable for as much as $54 billion in wildfire claims.

Before filing, PG&E told investors its fire-related liabilities could total more than $30 billion. The company is now offering $20.4 billion to cover all damages, including reimbursement to insurance companies. Of that, $7.5 billion is for residents and business owners hurt by the fires.

Richard Kelly, then the company’s chairman, said bankruptcy was “the only viable option to address the company’s responsibilities to stakeholders.”