PG&E faces judicial bankruptcy brownout
PG&E works on power lines to repair damage caused by the Camp Fire in Paradise, California, U.S. November 21, 2018.
Source: REUTERS/Elijah Nouvelage
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Just as the California utility cut off customers to avoid wildfire risks, a judge opened the door for creditors to seize power over its restructuring. They are offering more to fire victims, and less to equity holders. Running the agenda matters: PG&E stock fell another 30%.
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