Activist investor Jeff Ubben criticized PG&E Corp. for postponing its deadline for nominating board members for a fifth time as the bankrupt utility-owner negotiates with competing shareholder groups.
The PG&E bankruptcy is shaping up to be one of the biggest, lengthiest and most complex bankruptcy cases to ever pass through the American court system. And while much of the fate of the company rests in the hands of the judge and U.S. Trustees assigned to oversee the case, there are countless other power… [Read More]
Morgan Stanley says its investor clients are becoming too optimistic about the outlook for PG&E , the California utility currently managing its wildfire costs in bankruptcy court.
A group of investors including Knighthead Capital Management LLC, Redwood Capital Management and Abrams Capital Management have formed to press bankrupt utility giant PG&E Corp. for a management overhaul.
On Thursday, Mayor London Breed and City Attorney Dennis Herrera sent a letter to PG&E’s interim CEO and its chief financial officer regarding San Francisco’s efforts to study the prospect of buying the company’s electric distribution assets serving the city.
The City and County of San Francisco (the “City”) has initiated work to evaluate the cost and feasibility of acquiring PG&E’s electric distribution facilities that serve San Francisco.
After an extensive review, each office determined that insufficient evidence exists to prove beyond a reasonable doubt that PG&E acted with a reckless disregard for human life in causing the fires, the standard necessary to sustain criminal charges.
What happens when a famously left-leaning city dives into the buttoned-down business of electric utilities? San Francisco may soon find out.