Bankrupt PG&E reaches $13.5 billion settlement with California wildfire victims

FILE PHOTO: Employees of Pacific Gas & Electric (PG&E) work in the aftermath of the Camp Fire in Paradise, California, U.S., November 14, 2018. REUTERS/Terray Sylvester/File Photo

(Reuters) – California’s bankrupt power producer PG&E Corp (PCG.N) said on Friday it had reached a $13.5 billion settlement with victims of some of most devastating wildfires in the state’s modern history. The agreement helps smooth the way for the beleaguered company to emerge from bankruptcy. It filed for Chapter 11 protection in January, citing […]

Continue reading this article with a Fiji Times online membership.

More Stories