PG&E Approved for $1.5 Billion Loan

PG&E is approved for a $1.5 billion dollar loan to continue operations for the first four weeks of bankruptcy proceedings.

Posted: Feb 1, 2019 3:28 PM
Updated: Feb 1, 2019 3:44 PM

PG&E is approved for a $1.5 billion dollar loan to continue operations for the first four weeks of bankruptcy proceedings.

A federal bankruptcy judge approved the loan on Thursday.

An attorney for the company says the utility wants to establish a trust fund for fire victims.

PG&E's bankruptcy filing Tuesday listed roughly $71 billion in assets and $51 billion in debt. That does not include the tens of billions of dollars in potential liability for the northern California wildfires in the area. 

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