Pacific Gas and Electric (PG&E)
Attorneys for PG&E urged Bankruptcy Judge Dennis Montali to approve the utility’s proposed $11 billion settlement with insurance companies and hedge funds.
The federal judge in charge of PG&E’s bankruptcy rejected the utility’s argument that it isn’t subject to CA’s legal doctrine of inverse condemnation.
PG&E’s attorneys argued in federal bankruptcy court that inverse condemnation applies only to public entities and that the utility is not a public entity.
California officials hammered PG&E executives during a legislative hearing over the utility’s mishandling of multiple public safety power shutoffs.
The California PUC opened an investigation into the power shutoffs that left millions in the dark several to prevent utility-sparked wildfires.
Wildfire victims and California Gov. Gavin Newsom challenged PG&E’s proposed $11 billion settlement with insurance companies that are seeking reimbursement.
More elected officials are calling for a public takeover or restructuring of PG&E after it blacked out millions of Californians to prevent deadly wildfires.
California Gov. Gavin Newsom has summoned PG&E and its creditors, including victims, to try to broker a deal to pull the utility out of bankruptcy.
Analysts at a renewable energy conference warned that PG&E could still reject its renewable power purchase agreements in bankruptcy.
The federal judge overseeing Pacific Gas and Electric’s bankruptcy named a mediator to help the utility and its bondholders negotiate a reorganization plan.
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