California’s bankrupt power producer PG&E Corp said on Friday it had reached a $13.5 billion settlement with victims of some of most devastating wildfires in the state’s modern history. It filed for Chapter 11 protection in January, citing potential liabilities in excess of $30 billion from wildfires in 2017 and 2018 linked to its equipment. “With this important milestone now accomplished, we are focused on emerging from Chapter 11 as the utility of the future that our customers and communities expect and deserve,” Chief Executive Officer Bill Johnson said in a statement. …read more
Source:: Yahoo Finance
