Chapter 11 News

Texas Power Firm Hit With $2.1 Billion Bill Files for Bankruptcy

The largest power generation and transmission cooperative in Texas filed for bankruptcy in the wake of power outages that caused an energy crisis during the winter freeze last month. Brazos Electric Power Cooperative filed for Chapter 11 in Texas after …

Sex Abuse Victims Want Archdiocese Eliminated, Lawyer Says

ALBUQUERQUE, N.M. — An attorney for the Archdiocese of Santa Fe has claimed that alleged victims of clergy sexual abuse and their lawyers are seeking to eliminate the archdiocese in New Mexico by asking about the church’s holdings. Tom Walker, …

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 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 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 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 Faces Record Fine of $2.1 Billion for Role in Wildfires

California regulators increased penalties against PG&E Corp. to $2.1 billion for violations tied to the catastrophic wildfires ignited by the company’s power lines in 2017 and 2018. The penalty would be the largest ever imposed by the California Public Utilities …

Sex Abuse Cases Push Harrisburg Catholic Diocese into Bankruptcy

The Roman Catholic Diocese of Harrisburg, facing sex abuse claims it says it may not be able to pay, filed for bankruptcy protection, citing changing laws and an increasing number of victims. The church “has struggled to remain financially viable …