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My understanding is that they have already filed for Chapter 11. Also the stock has fallen from 50 to 5. Meaning, the "old" PG&E is already dead. We can beat
by cagenut 7y ago
My understanding is that they have already filed for Chapter 11. Also the stock has fallen from 50 to 5.
Meaning, the "old" PG&E is already dead. We can beat said dead horse over exec bonuses and tree trimming failures all we like, but its somewhat beside the point. How to go forward?
Specifically, in Chapter 11 right now they're surely aggressively trying to re-negotiate every financial thing they can touch. Another fire opening up another lawsuit right now would almost instantly torpedo any deals in the works.
Its a remarkably lose-lose situation.