Deals
PG&E Bankruptcy Talk Sets Stage for a Showdown With California
- Company is said to consider bankruptcy filing within weeks
- State may weigh legislation to aid PG&E in fire liabilities
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In weighing a bankruptcy, power giant PG&E Corp. may be firing a warning shot to California lawmakers: Help us or watch the largest utility in your state go insolvent.
The company is considering whether to file for bankruptcy protection in as soon as weeks to organize the billions of dollars in potential liabilities from wildfires its equipment may have ignited, people familiar with the situation said Friday. The filing isn’t certain, the people said, but it may be enough to force the hand of state legislators who could come up with a rescue package.