Judge Allowing PG&E to Use Loans to Operate During Bankruptcy

 

A U.S. bankruptcy judge is allowing Pacific Gas and Electric to spend an initial one-point-five-billion in loans to keep operating during its Chapter 11 bankruptcy. The judge yesterday agreed to allow the utility company to spend some of what may ultimately be six-billion in loans needed to keep it operating during the bankruptcy process. Lawyers representing fire victims voiced concerns about when and how much their clients will be compensated and what priority they will be given.