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RSS FeedsPG&E emerges from bankruptcy, pays $5 billion into wildfire fund
(WorldNews Business)


2 july 2020 04:05:24

PG&E emerges from bankruptcy, pays $5 billion into wildfire fund
(WorldNews Business)

PG&E emerged from bankruptcy on Wednesday, closing the latest chapter in a decade-long series of crimes, calamities, wildfires, explosions, and fatalities unleashed by the disgraced utility — yet the court case ends with PG&E saddled by $38 billion in debt. With the end of PG&E’s $58 billion bankruptcy, the utility paid $5 billion into a wildfire fund. “Today`s announcement is significant for PG&E and for the many wildfire victims who are now one step closer to getting paid,” said Bill Smith, PG&E interim chief executive officer, referring to the company’s disclosure that the bankruptcy has concluded. At...

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