PG&E Corporation

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Case overview

Case Number:

3:19-bk-30088

Court:

California Northern

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

September 19, 2019
PG&E Bondholders, Wildfire Victims Propose $24B Reorg Plan

PG&E Corp.'s bondholders have joined forces with wildfire victims to propose their own plan for California's largest utility to exit bankruptcy, one that puts more money — about $24 billion — toward wildfire claims, according to a motion filed Thursday in California bankruptcy court.
September 13, 2019
PG&E, Insurers Cut $11B Deal Over Calif. Wildfires

A group of insurance companies with claims against Pacific Gas and Electric for payouts they made to victims of California's 2017 and 2018 wildfires announced Friday that it has agreed to settle with the bankrupt utility for $11 billion.
September 09, 2019
PG&E Reorg Plan Includes $16.9B For Wildfire Claims

Pacific Gas and Electric has offered to set aside $16.9 billion for public entities and victims of the disastrous wildfires that ravaged California in recent years as part of its Chapter 11 reorganization plan, according to the lengthy proposal filed Monday in California bankruptcy court.
August 22, 2019
Judge Says PG&E Wildfire Claims Should Be Estimated

The judge overseeing Pacific Gas and Electric Co.'s bankruptcy is recommending that the utility's total liability for California's 2017 and 2018 wildfires be estimated, saying there is not enough time to deal with the billions of dollars in claims individually.
August 16, 2019
Judge Says PG&E Ch. 11 Exclusivity Is Best For Fire Victims

A California federal judge on Friday allowed Pacific Gas and Electric Co. to keep its right to exclusively pitch a Chapter 11 plan through September, saying it was "the best of the choices presented" when it comes to helping victims of recent, devastating wildfires blamed on the power company.
August 15, 2019
$105M PG&E Fund Taking Applications To Aid Wildfire Victims

A $105 million fund created by PG&E to help victims of wildfires that ravaged Northern California and dragged it into bankruptcy is now taking applications, the nation's largest utility announced Thursday.
August 14, 2019
Federal Monitor Says PG&E Wildfire Mitigation 'Falling Short'

A federal court monitor overseeing Pacific Gas and Electric Co.'s probation told a California federal court Wednesday that the bankrupt utility's efforts to reduce wildfire risk via a vegetation management program are falling short, that the quality of the tree-trimming work done around power lines is questionable and that record keeping issues exist.
August 13, 2019
PG&E Faces Tough Crowd As It Fights For Ch. 11 Exclusivity

PG&E battled Tuesday to protect its right to exclusively pitch a Chapter 11 plan through September, though its claims of being an "honest broker" drew laughter from a courtroom crowded with Northern California wildfire victims, as well as bondholders and insurers seeking to propose their own plans.
August 09, 2019
Calif. Judge Warns PG&E's Attys: 'Don't Play Games'

A California bankruptcy judge told Pacific Gas and Electric Co.'s counsel Friday that he finds it "very, very troublesome" that the utility didn't disclose upfront it had already paid its CEO a $3 million sign-on bonus in its compensation plan proposal, saying the omission was "too clever by half" and, "One rule is don't play games with the judge."
August 08, 2019
PG&E Defends CEO's Pay Package Over Trustee's Concerns

PG&E, California's ailing power utility, is fighting back against claims by the federal bankruptcy watchdog that its compensation for its new CEO is too high, calling his pay package "reasonable and appropriate."

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