creditors News

One Wildfire Metric Threatens to Upend PG&E’s Restructuring Plan

PG&E Corp. investors looking to learn their fate may not get the answer from the bankrupt power company. Instead, the key data point could pop up within days on the website of California’s forestry service. That’s where firefighters are tracking …

PG&E Says It’s Open to Extending Fire Victim Claims Deadline

PG&E Corp. told a judge it’s willing to extend the deadline for victims of wildfires caused by the utility’s equipment to file claims in its bankruptcy. U.S. District Judge James Donato criticized the company at a hearing last week, saying …

Judge Strips PG&E of Exclusive Control Over Recovery Plan

California power giant PG&E Corp. was stripped of its right to exclusively pitch a reorganization plan in court, escalating an already-heated battle over the largest utility bankruptcy in U.S. history. The shares dropped more than 25% in after-hours trading. U.S. …

PG&E Attacks Rival Plan for Paying Fire Victims Before Insurers

PG&E Corp. and a group of insurers urged a judge to reject a competing reorganization plan for the bankrupt utility because the proposal would pay fire victims who lost their homes ahead of insurance companies and “unjustly enrich” bondholders including …

PG&E’s Plan to Cap Fire Liabilities at $18 Billion Draws Ire

California utility giant PG&E Corp. has issued its long-awaited plan for emerging from the largest utility bankruptcy in U.S. history: Raise debt, offer equity and cap wildfire liabilities that led to its collapse at $18 billion — less than half …

PG&E Tumbles on Risk of Up to $18 Billion in Fire-Lawsuit Costs

PG&E Corp. shares plunged Monday after a judge ruled that a jury can determine whether it should pay as much as $18 billion in damages to wildfire victims. The California utility giant fell as much 28%, to $10.22, at 9:35 …

PG&E Posts $2.6 Billion Loss Stemming From Bankruptcy, Wildfires

PG&E Corp., the bankrupt California utility giant, reported a $2.6 billion second-quarter loss and said it expects more charges this year tied to wildfires that devastated the state in 2017 and 2018. The company, which didn’t provide an outlook for …