PG&E, Owner of Biggest US Power Utility, Files for Bankruptcy
Power provider PG&E filed for voluntary Chapter 11 bankruptcy protection on Tuesday, succumbing to liabilities stemming from wildfires in Northern California in 2017 and 2018.
The owner of the biggest U.S. power utility has filed a motion seeking court approval for a $5.5 billion debtor-in-possession financing, it said in a statement.
PG&E listed assets of $71.39 billion and liabilities of $51.69 billion, in a court document filed in the U.S. Bankruptcy Court for the Northern District of California.
*I tried to find who shot that image, but the images are changing at the site. In any case I like how an object in the foreground sets up the rest on the image.
Another good link more articles on this over the last months. cnbc.com