California Governor Gavin Newsom said he will convene a meeting of Pacific Gas and Electric Co executives, shareholders, wildfire victims, and PG&E’s other creditors in Sacramento next week to speed up the resolution of the bankruptcy case that creates a new entity. The new company can only happen “if we first get out of bankruptcy court,” Newsom said in a statement https://medium.com/@CAgovernor/governor-gavin-newsom-outlines-roadmap-for-wildfires-communities-and-utility-c9d886dee571 on Friday, without elaborating on his plans. The San Francisco-based power producer in January filed for Chapter 11 bankruptcy protection anticipating its liabilities from massive wildfires in 2017 and 2018 blamed on its equipment could top …read more
Source:: Yahoo Finance
