bankruptcy News

AM Best Says Specialty Insurer Exposures to PG&E Bankruptcy Within Risk Appetites

Specialty companies specifically operating in the utility sector are likely to face substantial claims and losses stemming from the bankruptcy filing by PG&E Corp., the California utility whose equipment is being investigated as having a potential role in the recent …

PG&E in California Vows to Keep The Lights on Despite Bankruptcy

Utility owner PG&E Corp. filed for bankruptcy protection on Tuesday in anticipation of liabilities from California wildfires, including a catastrophic 2018 blaze that killed 86 people. PG&E, which provides electricity and natural gas to 16 million customers in northern and …

PG&E in California Files for Bankruptcy in Wake of Wildfire Liabilities

Power provider PG&E Corp. filed for voluntary Chapter 11 bankruptcy protection on Tuesday, succumbing to liabilities stemming from wildfires in Northern California in 2017 and 2018. The owner of the biggest U.S. power utility has filed a motion seeking court …

PG&E Restructuring Highlights California’s Inverse Condemnation Rule

PG&E Corp.’s chances of emerging from bankruptcy proceedings hinge in part on an arcane California legal rule that threatens to keep the utility owner perpetually on the hook for liabilities from catastrophic wildfires even beyond the more than $30 billion …

$5M in Claims Filed Against Montana Coal Company Include Family of Worker

The family of a fallen miner is among those in Montana trying to collect more than $5 million from a coal company that’s working through bankruptcy proceedings. Also trying to collect are county governments, and dentists. The Billings Gazette reported …

New Jersey Doctor Sentenced for Cheating Medicare, Insurers Out of $3M

A New Jersey doctor who defrauded Medicare and private insurers out of $3 million has been sentenced to three years in prison. Anthony Enrico, a podiatrist with offices in Paterson, Passaic, and Elizabeth, had pleaded guilty last October to health …

Settlement Reached in Lawsuit Over Deadly Halloween Hayride in Maine

The family of a teenager who died in a hayride crash has settled a lawsuit against the farm owner who operated the Halloween attraction in 2014, the family lawyer said Wednesday. Money from the settlement in the wrongful death lawsuit …

In America’s Richest State, the Capital Flirts with Bankruptcy

The hedge-fund enclave of Greenwich, on the Connecticut Gold Coast, is about 100 miles and a world away from the state capital. But the fiscal crisis in Hartford, the historic center of the American insurance industry, is fast becoming more …

Wyoming Hospital Headed for Bankruptcy after Numerous Lawsuits

A Powell, Wyo. hospital has filed for bankruptcy as it faces about 20 lawsuits over surgeries performed by a former orthopedic surgeon. The Powell Tribune reported that Powell Valley Healthcare’s board of directors approved filing for Chapter 11 bankruptcy Monday. …

Yellow Cab in Nevada Says Disabilities Suit Has it in Bad Spot

Yellow Cab Co. of Reno may have to file for bankruptcy if it’s ordered to pay excessive attorney fees after a federal judge found it violated the Americans with Disabilities Act by denying service to a disabled woman with a …