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California utility company PG&E Corp is exploring filing some or all of its business for bankruptcy protection as it faces billions of dollars in liabilities related to fatal wildfires in 2018 and 2017, people familiar with the matter said on Friday.
The company is considering the move as a contingency, in part because it could soon take a significant financial charge for the fourth quarter of 2018 related to liabilities from the blazes, the sources said.
A bankruptcy filing is not certain, the sources said. The company could receive financial help through legislation that would let it pass on to customers costs associated with fire liabilities, the sources said. But that is just a possibility, they said, so bankruptcy preparations are being made.
(Score: 1, Offtopic) by realDonaldTrump on Monday January 07 2019, @12:36PM
Nutty Former Governor Jerry Brown refused to allow the Free Flow of the VAST amounts of Water coming from the North. It is being, very foolishly, diverted into the Pacific Ocean. Can be used for fires, farming and everything else. Think of California with plenty of Water -- Nice! Fast Federal govt. approvals. Must also tree clear to stop fire from spreading. Trust me, we have many Companies that can do a great job of clearing that one out. And turning it into magnificent Paper & Lumber!!!