Posts Tagged: creditors
A PG&E worker checks power lines during a San Jose grass fire in July. (Photo: Geartooth Productions, via Shutterstock)
Things are not going well for PG&E. Amid massive blackouts that PG&E has put in place to avoid liability in the event of a wildfire, millions of Californians were left without power — for days at a time in some cases. San Jose Mayor Sam Liccardo has called for a public takeover of PG&E — a move backed by at least two dozen cities — that would reclassify the company as a nonprofit electric and gas cooperative instead of an investor-owned company.
Calpensions: A federal judge, who earlier ruled CalPERS pension contracts can be overturned in bankruptcy, yesterday outlined the difficulty of cutting pensions while approving Stockton’s plan to exit bankruptcy with pensions intact.
Waterfront, Stockton, Calif., at Weber Point. (Photo: Terrance Emerson)
Calpensions: During a hearing Oct. 1 on Stockton’s “plan of adjustment” to cut debt and emerge from bankruptcy, there may be a landmark ruling on whether CalPERS pension debt can be cut in bankruptcy.