Judge Approves PG&E Bankruptcy Exit

Credit to Author: Darrell Proctor| Date: Sun, 21 Jun 2020 18:28:13 +0000

The post Judge Approves PG&E Bankruptcy Exit appeared first on POWER Magazine.

A federal judge in California has approved Pacific Gas & Electric’s plan to exit bankruptcy, clearing the way for the utility to compensate victims of a series of wildfires in the state that left more than 100 people dead in 2017 and 2018.  The action by U.S. Bankruptcy Judge Dennis Montali on June 20 authorized […]

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Neiman Marcus becomes 2nd major retailer to seek Chapter 11

Credit to Author: Associated Press| Date: Thu, 07 May 2020 16:40:59 +0000

NEW YORK: Neiman Marcus has filed for Chapter 11 bankruptcy protection, the first department store chain to do so and the second major retailer to be toppled by the coronavirus pandemic. The move by the 112-year-old storied luxury department store chain was announced Thursday and follows the bankruptcy filing by J.Crew on Monday. Experts believe there […]

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Johnson Stepping Down as PG&E CEO

Credit to Author: Darrell Proctor| Date: Wed, 22 Apr 2020 14:30:23 +0000

The post Johnson Stepping Down as PG&E CEO appeared first on POWER Magazine.

Pacific Gas & Electric (PG&E) announced April 22 that Bill Johnson, the president and CEO who took over those roles in the midst of the company’s bankruptcy proceedings, will step down June 30 after just more than one year on the job. The company said Bill Smith, a PG&E board member, will serve as interim […]

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Gas Stations Face Bankruptcy As Demand Plummets

Credit to Author: Jo Borrás| Date: Fri, 03 Apr 2020 23:00:04 +0000

With the COVID-19 pandemic keeping many people and cars at home and the looming threat of mass bankruptcy forcing consumer demand even lower, we have to ask: are gas stations making any money

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Report: Global Coal-Fired Generation Down 3%

Credit to Author: Darrell Proctor| Date: Tue, 26 Nov 2019 17:47:10 +0000

The post Report: Global Coal-Fired Generation Down 3% appeared first on POWER Magazine.

A report from a UK-based online journal that covers climate and energy policy said that coal-fired power generation worldwide will fall by 3% this year, to about 54% of global electricity output. The report from Carbon Brief, released Nov. 25, was written by researchers from climate research groups including the Centre for Research on Energy […]

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Judge: Court Will Consider Rival Proposal for PG&E Reorganization

Credit to Author: Darrell Proctor| Date: Thu, 10 Oct 2019 01:00:21 +0000

The post Judge: Court Will Consider Rival Proposal for PG&E Reorganization appeared first on POWER Magazine.

A federal bankruptcy judge on Oct. 9 ruled that Pacific Gas & Electric (PG&E), California’s largest utility, does not have the sole right to determine the terms of its reorganization. Judge Dennis Montali said those who support a rival proposal, which was devised by a group of the utility’s creditors, can have their plan considered. […]

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PG&E’s Reorganization Plan—Cap Wildfire Liabilities at $18 Billion

Credit to Author: Darrell Proctor| Date: Tue, 10 Sep 2019 00:03:33 +0000

The post PG&E’s Reorganization Plan—Cap Wildfire Liabilities at $18 Billion appeared first on POWER Magazine.

Pacific Gas & Electric (PG&E) wants to cap its liabilities from damages caused by California wildfires at about $18 billion, according to the reorganization plan filed by the bankrupt utility September 9 in federal court in San Francisco. The amount is less than half what creditors, including insurance companies and wildfire victims, say they are […]

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PG&E Seeking $14 Billion in Restructuring Plan

Credit to Author: Darrell Proctor| Date: Thu, 05 Sep 2019 18:52:37 +0000

The post PG&E Seeking $14 Billion in Restructuring Plan appeared first on POWER Magazine.

Pacific Gas & Electric (PG&E) reportedly will soon file a restructuring plan that includes more than $14 billion in equity commitments, as the utility looks to recover from billions of dollars in liabilities tied to its role in California wildfires that caused the company to file the largest utility bankruptcy in U.S. history. Bloomberg on […]

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