A federal judge who has emerged as a vocal critic of PG&E Corp.’s safety record, said the California utility giant has a “clear-cut pattern” of starting wildfires and needs “strong medicine” put in place before this year’s season begins. U.S. …
On an unusually warm day in northern California, hot and dry winds whipped through the Sierra Nevada foothills northeast of San Francisco. It was Thursday, Nov. 8, and a “red-flag warning” from the National Weather Service was already out, cautioning …
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 …
California fire investigators last week concluded that a major 2017 wildfire was caused by privately owned electrical equipment, prompting the state’s new governor to estimate that PG&E Corp’s potential wildfire liabilities could be almost cut in half. Investors in the …
As PG&E Corp. prepares to file for bankruptcy, victims of wildfires are getting a preview of how they’re likely to be treated as the utility reorganizes — harshly. Ahead of an expected filing for Chapter 11 protection this week, the …
The nation’s largest utility has lined up $5.5 billion in credit and loans so it can continue operating as it prepares for bankruptcy. Pacific Gas & Electric said in a regulatory filing Tuesday it secured commitments from JPMorgan Chase, Bank …
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 …
Seth Klarman’s Baupost Group has been the poster child of the hedge fund industry’s ill-timed stock-market bets on the troubled utility PG&E Corp., which announced plans for bankruptcy. It turns out, though, that Baupost’s stock purchases, valued at $873 million …
A U.S. judge has proposed restricting utility PG&E Corp from using power lines deemed to be unsafe during high winds in the 2019 California fire season, adding another complication for the California utility as it faces billions of dollars in …
Wildfires and the Dynamex decision. Those two topics dominated discussions at an insurance wholesaler conference this week. The California Wholesaler Association conference in La Jolla, Calif. from Sunday through today featured numerous panels and networking opportunities. CIWA talks included experts …
