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Wildfires lead PG&E Corp towards Chapter 11 bankruptcy protection


Devdiscourse News Desk United States
Updated: 29-01-2019 14:40 IST
Wildfires lead PG&E Corp towards Chapter 11 bankruptcy protection

Power provider PG&E Corp filed for voluntary Chapter 11 bankruptcy protection on Tuesday, succumbing to liabilities stemming from wildfires in Northern California in 2017 and 2018. PG&E also filed a motion seeking court approval for a $5.5 billion in debtor-in-possession (DIP) financing.

(With inputs from agencies.)

COUNTRY : United States

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