Re­port: PG&E could re­veal in­sol­vency plan this week

Las Vegas Review-Journal - - THE WEST -

SAN FRANCISCO — A news­pa­per says em­ploy­ees of Pa­cific Gas and Elec­tric could learn this week if the util­ity will de­clare in­sol­vency while fac­ing bil­lions of dol­lars in li­a­bil­ity over its role in re­cent Cal­i­for­nia wild­fires.

The San Francisco Chron­i­cle re­ports Sun­day that un­der a new state law, PG&E must tell its em­ploy­ees at least 15 days be­fore a change of con­trol in the com­pany — in­clud­ing a bank­ruptcy fil­ing.

That no­tice may come as soon as Mon­day. The news was first re­ported by Bloomberg.

PG&E is in dis­cus­sions with lenders about a fi­nanc­ing pack­age worth up to $5 bil­lion.

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