Godlike Productions - Reply to Thread

Users Online Now: 2,148 (Who's On?)	Visitors Today: 762,053
Pageviews Today: 1,337,848	Threads Today: 435	Posts Today: 9,100
01:25 PM

REPLY TO THREAD

Subject PG&E to file for bankruptcy to deal with CA wildfire liability **Camp Fire Disaster**

User Name

Font color: Font:

In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.

Original Message fucking disgrace that the state government would allow them to file bankruptcy. Under Chapter 11, they will only be responsible for a small percentage of the cost of damage. the rest of that will fall on taxpayers.

[link to www.sacbee.com (secure)]

Overwhelmed by billions of dollars in claims from the Camp Fire and the 2017 wildfires of Northern California, PG&E said Monday it plans to file for bankruptcy.

The embattled utility gave 15-day notice of its intent to file for protection under Chapter 11 of the bankruptcy code, as required by a state law enacted last fall to deal with utility fire liabilities. The company made the announcement barely 12 hours after announcing the resignation of its CEO, Geisha Williams.

“We believe a court-supervised process under Chapter 11 will best enable PG&E to resolve its potential liabilities in an orderly, fair and expeditious fashion,” said interim CEO John R. Simon in a prepared statement. He pledged to “continue providing our customers with safe service and investing in our systems and infrastructure.”

Richard Kelly, chairman of PG&E Corp., said a Chapter 11 filing “represents the only viable option to address to the company’s responsibilities to its stakeholders.”

more at link: [link to www.sacbee.com (secure)]

Pictures (click to insert)





\| Next Page >>