bankruptcy News

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 …

PG&E Plan Has Broad Support From Fire Victims, Lawyers Say

Lawyers for more than half the wildfire victims who negotiated a $13.5 billion settlement with PG&E Corp. say their clients plan to vote overwhelmingly in favor of the bankrupt utility’s reorganization plan. The attorneys represent about 40,300 of the estimated …

PG&E Fire Victims Warn Market Turmoil Endangers Their Settlement

Market turmoil from the coronavirus is spilling into the bankruptcy of California power giant PG&E Corp. Victims of wildfires blamed on PG&E’s equipment are concerned the sell-off on Wall Street could hobble stock payments that make up half of a …

PG&E Glides Toward Bankruptcy Exit Now That State Is Focused on Virus

The deepening coronavirus crisis has shifted nearly all attention away from what had been one of California’s most pressing issues: the fate of embattled utility PG&E Corp. Now, the company is quietly edging closer to exiting the largest utility bankruptcy …

PG&E Wins Approval of $23 Billion Bankruptcy Financing Package

PG&E Corp. won bankruptcy court approval to use up to $23 billion in financing after California Governor Gavin Newsom dropped his opposition, clearing a crucial obstacle to the power company’s push to exit Chapter 11. U.S. Bankruptcy Judge Dennis Montali …

Billionaire Sacklers Don’t Deserve Bankruptcy Shield, States Say

Two dozen U.S. states urged a bankruptcy judge to let them revive their stalled lawsuits against the billionaire owners of Purdue Pharma LP, saying keeping the opioid litigation on ice sends a message that wealthy people can escape justice. The …

Toys ‘R’ Us Creditors Sue Directors and Private-Equity Owners

Toys “R” Us Inc. creditors filed a lawsuit accusing the defunct retailer’s executives and private-equity owners of fraud and breach of fiduciary trust. Former Chief Executive Officer David Brandon and other directors misrepresented the toyseller’s ability to repay creditors after …

PG&E Agrees to More State Control If It Gets Into Trouble Again

PG&E Corp. said it’s open to a proposal that would let California regulators take greater control of the company if it gets into trouble again, largely conceding to one of Gov. Gavin Newsom’s demands for the utility to exit bankruptcy. …

PG&E Strikes Deal With FEMA Over $3.9 Billion in Fire Claims

PG&E Corp. reached a deal with the U.S. Federal Emergency Management Agency over $3.9 billion in relief Washington provided after the utility’s power lines sparked devastating wildfires. The settlement, which requires court approval, calls for FEMA to reduce its claim …