Comment on Facing massive liability, PG&E seeks bankruptcy protection

Facing massive liability, PG&E seeks bankruptcy protection

Pacific Gas and Electric said it plans to file for bankruptcy protection amid potentially massive liabilities resulting from the deadly California wildfires. The announcement Monday follows the resignation of the power company’s chief executive Geisha Williams a day earlier. John Simon, the company’ general counsel since 2017, will serve as interim chief executive. Officials are investigating whether the utility’s equipment sparked a wildfire in Northern California in November that killed at least 86 people and destroyed 15,000 homes.

 

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