bankruptcy News

PG&E Says Bankruptcy Court Approves its Chapter 11 Reorganization Plan

PG&E Corp said its Chapter 11 reorganization plan has been confirmed by the United States Bankruptcy Court for the Northern District of California, bringing the power provider one step closer to emerging from bankruptcy and participate in a state-backed wildfire …

California Regulator Approves PG&E’s Chapter 11 Reorganization Plan

PG&E Corp said on Thursday its Chapter 11 reorganization plan has been confirmed by a California power regulator, bringing the power provider one step closer to emerge from bankruptcy and participate in a state-backed wildfire fund. The decision by the …

PG&E Nears End of Bankruptcy Amid Persisting Safety Worries

BERKELEY, Calif. — limped into bankruptcy vilified for its long-running neglect of a crumbling electrical grid that ignited a succession of horrific Northern California wildfires. After nearly a year-and-a-half of wrangling during one of the most complex bankruptcy cases in …

PG&E Judge Rejects Bid to Throw Out Victims’ Bankruptcy Vote

The judge overseeing PG&E Corp.’s bankruptcy rejected an effort by dissident fire victims to upend voting on the California utility’s reorganization plan. Judge Dennis Montali said during a hearing Friday that he planned to deny a motion asking to throw …

PG&E to Purge Most of its Board in Fallout From Bankruptcy

BERKELEY, Calif. — PG&E Corp. will sweep out three quarters of its board of directors to start with a mostly clean slate when it emerges from a bankruptcy case triggered by deadly wildfires ignited in Northern California by the utility’s …

Apollo, Centerbridge Backed PG&E, Funded Loan to Firm Suing It

Two major investors in PG&E Corp. are also backing a loan to one of the law firms suing the bankrupt California utility on behalf of thousands of wildfire victims. Centerbridge Partners LP is the among the 20 biggest shareholders in …

Viewpoint: Washington Needs to Embrace Its Role as Ultimate Risk Manager

The actions that the federal, state and local governments in the U.S. have taken to stop the spread of the new coronavirus and to mitigate the resulting economic fallout have been tagged with the term “unprecedented” a lot over the …

PG&E Fire Victims Again Seek Payout Guarantee Amid Virus Tumult

Victims counting on PG&E Corp.’s bankruptcy to compensate them for their losses in California wildfires are making a last-ditch effort for court protection against gyrations in the utility’s share price in the virus-infected stock market. Lawyers for a committee representing …

Judge Refuses to Approve Fire Victims Letter Attacking PG&E

BERKELEY, Calif. — A federal judge has refused to put his stamp of approval on a letter to Northern California wildfire victims from attorneys who allege that Pacific Gas & Electric may be breaking its promises as it tries to …

PG&E Victims Lawyers’ Squabble Could Slow Bankruptcy Exit

PG&E Corp.’s glide toward approval of its bankruptcy plan has hit new turbulence, with lawyers for fire victims clashing over whether to push for a better settlement because the risk of being compensated with stock has ballooned. Attorneys for the …