January 29, 2019 / 8:24 AM / 4 months ago

PG&E Corp files for Chapter 11 bankruptcy protection

Jan 29 (Reuters) - Power provider PG&E Corp filed for voluntary Chapter 11 bankruptcy protection on Tuesday, succumbing to liabilities stemming from wildfires in Northern California in 2017 and 2018.

PG&E also filed a motion seeking court approval for a $5.5 billion in debtor-in-possession (DIP) financing. (Reporting by Subrat Patnaik in Bengaluru Editing by Saumyadeb Chakrabarty)

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