Court Approves PG&E's Bankruptcy Financing Package

PG and E's plan to raise funds to exit bankruptcy was approved after initially being rejected by Governor Gavin Newsom. The utility company filed for bankruptcy due to its equipment's link to California wildfires in 2017 and 2018. The approval came after investors showed interest in buying company stock. The funds are needed to pay settlements with wildfire victims, insurers, and government agencies.

What was the purpose of PG and E's bankruptcy financing package?

What led PG and E to file for bankruptcy protections?

What impact did the wildfires in California have on PG and E's financial situation?

How did California Governor Gavin Newsom's stance on PG and E's plan change?

What are the primary reasons PG and E needs the money from the financing package?