May 2, 2019 / 9:41 PM / 24 days ago

PG&E seeks lengthy exclusive period for its unprecedented bankruptcy

Power producer PG&E Corp on Wednesday sought a court order to maintain exclusive control of its bankruptcy into 2020, arguing the case is unprecedented as it must contend with assessing potentially thousands of claims by wildfire victims.

The risk of the claims pushed PG&E into its second court-supervised reorganization in January, marking one of the largest Chapter 11 bankruptcies in U.S. history. The company that month said its potential wildfire liability could top $30 billion.

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