PG&E Files For Bankruptcy In Wake Of Calif. Wildfires

Law360 (January 29, 2019, 10:26 AM EST) -- Pacific Gas and Electric Co. went forward Tuesday with its previously announced plans to file for Chapter 11 protection, buckling under an estimated $30 billion in damage liabilities stemming from California's devastating wildfires and vowing to reorganize with enhanced safety protocols.

Pacific Gas and Electric Co. on Tuesday filed for Chapter 11 protection. The company could face more than $30 billion in liability for several California wildfires that killed 130 people. (AP) The nation's largest utility and its parent company, PG&E Corp., filed for bankruptcy protection in San Francisco after already securing $5.5 billion in debtor-in-possession financing to fund what it...

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