Pacific Gas & Electric (PG&E) filed for Chapter 11 bankruptcy protection in anticipation of a tidal wave of litigation stemming from the Nov. 8 Camp Fire, which destroyed an entire town and killed 86 people. Bankruptcy court filings show that PG&E’s liabilities after the Camp Fire – the largest wildfire in the state’s history – have topped $50 billion while the utility’s assets are valued at about $71 billion, according to The Washington Post. The bankruptcy announcement has riled people throughout the state, including investors, government officials, and the general public. Likely to suffer most from the filing are the ... Read More
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