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PG&E to file for bankruptcy, gives 15-day advance notice

bizjournals Monday, 14 January 2019
Facing massive liabilities following California’s deadliest fires in history, Pacific Gas & Electric Co. said Monday it plans to file for bankruptcy, hours after the Sunday departure of its CEO. The San Francisco-based utility gave the 15-day advance notice required by California state law that it will reorganize under Chapter 11, likely beginning on Jan. 29. PG&E said it has already spoken with potential lenders for debtor-in-possession bankruptcy financing of approximately $5.5 billion. In…

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