Bankruptcy Chapter 11by Nick Youngson
As explored in PG&E Under Flame, Californias top utility is proving be a fascinating and frustrating case study of what happens when companies put profit over people. To recap; state authorities are heavily investigating PG&Es role in causing the Camp Fire that claimed at least 87 lives in November. Alongside a crisis of reputation, the company is facing billions of dollars in damages.
Amidst this turmoil, PG&E will likely file for bankruptcy in the next two weeks. The utility announced on Monday that they are indeed exploring filing for bankruptcy protection (after much speculation), and their stock quickly tumbled by over 50%. While in the best of cases bankruptcy should…
Read the full article at: https://www.forbes.com/sites/morgansimon/2019/01/18/if-pge-goes-bankrupt-who-benefits-not-us/