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:

April 28, 2020
$13.5B PG&E Bankruptcy Deal Shorts Fire Victims, Judge Told

A group of wildfire victims claim that the market downturn caused by the COVID-19 pandemic means their $13.5 billion settlement with Pacific Gas and Electric Co. has lost significant value, asking a California federal judge Monday to hold an estimation trial on the amount the utility owes to victims.
April 21, 2020
Calif. Agency Seeks $2B Fine, PG&E Bankruptcy Plan Tweaks

California's utility regulator is seeking to force PG&E Corp. to make changes to its plans to emerge from Chapter 11 in addition to proposing a record-setting penalty of nearly $2 billion for PG&E's role in contributing to deadly wildfires in recent years in the Golden State.
April 14, 2020
PG&E Gets OK On Manslaughter Plea Deal For Paradise Fire

A California bankruptcy judge on Tuesday approved Pacific Gas & Electric Corp.'s settlement with the state over the 2018 Camp Fire in which the utility pled guilty to 84 involuntary manslaughter counts and agreed to $4 million in fines and reimbursements, following assurances the penalties wouldn't come from the $13.5 billion wildfire victim trust.
April 13, 2020
PG&E Nears OK Of Deal Over Deadly Wildfire In Paradise

A California bankruptcy judge tentatively approved Pacific Gas & Electric's settlement with the state over the 2018 Camp Fire on Friday, acknowledging concerns that penalties against the utility could be drawn from the victims' trust and telling PG&E "some things not only have to be right, but they have to look right."
April 09, 2020
PG&E Touts Erin Brockovich's Support Of Reorganization Plan

Pacific Gas & Electric is drumming up support for its reorganization plan, trumpeting Thursday an endorsement from consumer advocate Erin Brockovich, who led a legal battle against the utility over contaminated California drinking water in the mid-1990s and said wildfire victims' "best way forward" is confirming the plan.
April 08, 2020
PG&E Tort Claimants Object To How Utility Plans To Pay Fine

The tort claimants committee in the PG&E Chapter 11 case is asking a California bankruptcy judge to reject the utility's proposal to route $4 million in fines through their settlement trust, saying the move would create a bad precedent.
April 07, 2020
PG&E Judge Won't OK COVID-19 Letter Co. Atty Called 'Silly'

A California judge overseeing Pacific Gas and Electric Co.'s bankruptcy declined Tuesday to approve a letter informing Northern California wildfire survivors that COVID-19 has hammered PG&E shares and reduced a $13.5 billion victims settlement fund, after a PG&E attorney slammed opposing counsel's "silly letter" as an effort to kill the deal.
April 06, 2020
$13.5B PG&E Deal With Wildfire Victims Loses Some Support

Pacific Gas and Electric Co. hit a major setback in resolving its bankruptcy when lawyers representing Northern California wildfire victims told a U.S. bankruptcy judge Monday that they could no longer support a $13.5 billion bankruptcy settlement, citing concerns with the equity-funded portion of the deal in light of the coronavirus pandemic.
March 25, 2020
PG&E Granted Approval For Updated Ch. 11 Disclosures

A California bankruptcy judge Wednesday said he would allow PG&E Corp. to send out a supplement to its already-approved Chapter 11 plan disclosure covering recent changes made in response to objections by California Gov. Gavin Newsom.
March 20, 2020
PG&E Agrees To Forgo Dividends For 3 Yrs Post-Bankruptcy

PG&E Corp. has agreed not to pay shareholder dividends for three years in order to secure California Gov. Gavin Newsom's support for its reorganization plan and to emerge from Chapter 11 to meet a deadline to access billions of dollars in state wildfire funds.

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