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PG&E Will File for Bankruptcy in California Due to Costly Wildfires

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PG&E Corp. said it will file for bankruptcy in California after the cost of wildfires left it with potential liabilities of $30 billion or more, gutting its share price and prompting the departure of its chief executive officer.
The San Francisco-based company said it intends to reorganize under Chapter 11 of the U.S. bankruptcy code on or about Jan. 29 after giving the required 15-day notice to employees, according to a filing at the Securities and Exchange Commission Monday. On Sunday, the company started searching for a new leader after Geisha Williams, 57, resigned as chief executive...
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PG&E bond prices fall; spreads widen on bankruptcy plans

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Bonds of PG&E Corp , owner of the biggest U.S. power utility by number of customers, plunged on Monday after the company said it is preparing to file for Chapter 11 bankruptcy as it faces liabilities linked to wildfires in California.
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PG&E stock crashes nearly 50% as utility says it will file for bankruptcy because of wildfires liability

2 days ago   |   By

PG&E craters after it said it will file for bankruptcy protection amid financial anguish stemming from its role in California's devastating wildfires.
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Bankruptcy Looms for PG&E After California Wildfires and CEO Departure

2 days ago   |   By

PG&E said it will file for bankruptcy in California after the cost of wildfires left it with potential liabilities of $30 billion or more , gutting its share price and prompting the departure of its chief executive officer.
The San Francisco-based company said it currently intends to reorganize under Chapter 11 of the U.S. bankruptcy code on or about Jan. 29 after giving the required 15-day notice to its employees, according to a filing at the Securities and Exchange Commission on Monday. On Sunday, the company started searching for a new leader after Geisha Williams , 57, quit as CEO...
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PG&E prepares bankruptcy filing after California wildfires

2 days ago   |   By

PG&E Corp , owner of the biggest U.S. power utility by number of customers, said on Monday it is preparing to file for Chapter 11 bankruptcy for all of its businesses as it faces potentially crushing liabilities linked to catastrophic wildfires in 2017 and 2018.
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PG&E stock crashes 50% as utility says it will file for bankruptcy because of wildfires liability

2 days ago   |   By

PG&E cratered Monday after it said it will file for bankruptcy protection amid financial anguish stemming from its role in recent wildfires.
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Bankruptcy Looms for PG&E After California Wildfires and CEO Departure

2 days ago   |   By

PG&E said it will file for bankruptcy in California after the cost of wildfires left it with potential liabilities of $30 billion or more , gutting its share price and prompting the departure of its chief executive officer.
The San Francisco-based company said it currently intends to reorganize under Chapter 11 of the U.S. bankruptcy code on or about Jan. 29 after giving the required 15-day notice to its employees, according to a filing at the Securities and Exchange Commission on Monday. On Sunday, the company started searching for a new leader after Geisha Williams , 57, quit as CEO...
Read more ...

 

PG&E to file for Chapter 11 bankruptcy; CEO resigns

2 days ago   |   By

PG&E announced Monday that it is preparing to file Chapter 11 Bankruptcy as it deals with lawsuits following devastating wildfires in California the last two years.
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Top U.S. utility PG&E says it is preparing bankruptcy filing

2 days ago   |   By

PG&E Corp, the biggest U.S. power utility, said on Monday it is preparing to file for Chapter 11 bankruptcy for all of its businesses as it faces potentially crushing liabilities linked to catastrophic wildfires in 2017 and 2018.
Read more ...

 

PG&E to file for bankruptcy filing as fire costs rise

2 days ago   |   By

PG&E Corp. said Monday it will file for bankruptcy in California after the cost of wildfires left it with potential liabilities of $30 billion or more, gutting its share price and prompting the departure of its chief executive officer. The San Francisco-based company said it will file under Chapter...
Read more ...

 

PG&E says it is preparing Chapter 11 bankruptcy filing

2 days ago   |   By

PG&E Corp said on Monday it is preparing to file for Chapter 11 bankruptcy for all of its businesses as it faces potentially crushing liabilities linked to catastrophic wildfires in 2017 and 2018.
Read more ...

 

PG&E to file for Chapter 11 bankruptcy, CEO resigns

2 days ago   |   By

PG&E announced that it is preparing to file Chapter 11 bankruptcy as it deals with lawsuits following devastating wildfires in 2017 and 2018. The announcement comes one day after the utility's CEO resigned.
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Utility Company PG&E Plans Bankruptcy Filing Over California Wildfires

2 days ago   |   By

The utility's equipment had been found to be responsible for many of the wildfires that killed scores in Northern California in 2017 and 2018.
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PG&E prepares to file for Chapter 11 bankruptcy

2 days ago   |   By

PG&E Corp said on Monday it is preparing to file for Chapter 11 bankruptcy for all of its businesses, as the company faces pressure from potentially crushing liabilities linked to catastrophic wildfires.
Read more ...

 


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