On January 29, 2019, California's Pacific Gas and Electric, one of the nation's largest utilities, filed for Chapter 11 bankruptcy protection. PG&E's bankruptcy is certain to be one of the largest and most complex restructurings in recent years and will involve state and federal regulators and a myriad number of issues, including the impact of the bankruptcy case on criminal proceedings now pending against PG&E.
In an article recently published in Bankruptcy Law360, restructuring partners Karol Denniston and Stephen Lerner examine the impact of the bankruptcy case on PG&E's criminal proceedings, and the effect that the bankruptcy case may have on regulatory orders addressing safety policies, procedures and actions.
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