Tom Dalzell, business manager of International Brotherhood of Electrical Workers Local 1245, said the union supports terminating exclusivity and generally favors the bondholders’ plan for the protections it offers union members and the structure of the company. The union had negotiated with the bondholders to ensure retirement benefits are paid in full under the reorganization… [Read More]
PG&E Bankruptcy News
News and updates related to PG&E's 2019 Chapter 11 filing
Yesterday afternoon, the bondholders group and the official committee representing the fire victims in PG&E’s bankruptcy case announced they had reached a deal. They filed a joint motion with the bankruptcy court to (1) terminate PG&E’s exclusive right to file a reorganization plan and (2) file their own plan of reorganization. Their plan appears to… [Read More]
In a jolt to PG&E Corp., a group representing wildfire victims Thursday teamed with up a consortium of Wall Street hedge funds trying to execute a hostile takeover of the utility.
Bondholders are taking another run at PG&E Corp. , forming an alliance with victims of the wildfires that swept through California in 2017 and 2018 to chart a path out of bankruptcy for the state’s largest utility.
According to Tom Dalzell, a union lawyer and Local 1245’s business manager, the change in ownership would diminish workers’ pension plans. PG&E union agreements require 30 years of service and 55 years of age to receive a full pension, and most employees would likely remain with PG&E rather than work for the city and take… [Read More]
A jury trial on Pacific Gas and Electric’s liability for the 2017 Tubbs Fire will start Jan. 7 in San Francisco, a California judge ruled Monday, after rejecting PG&E’s requests to move the case to Santa Rosa and limit the number of plaintiffs.
On Thursday, Sept. 5, IBEW 1245 Business Manager Tom Dalzell gave a special briefing on the PG&E bankruptcy to a group of more than two dozen IBEW 1245 retirees. The retirees traveled from the Sacramento area, the Bay Area and the Central Valley to attend the briefing at the Local 1245 union hall in Vacaville…. [Read More]
Pacific Gas & Electric (PG&E) announced Friday it has agreed in principle to an $11 billion settlement covering 85% of insurance claims related to the 2017 Northern California wildfires and 2018 Camp Fire.
Pacific Gas & Electric Co. once had no shortage of political influence or friends willing to step up at California’s state Capitol when the company wanted something.
It seems notable that IBEW Local 1245, PG&E’s largest union, has registered its opposition to the idea of San Francisco taking over part of PG&E.