Corporate bankruptcy

California Public Utilities Commissioner Cliff Rechtschaffen speaks at a CPUC meeting in San Francisco, Wednesday, Nov. 13, 2019. California regulators will vote Wednesday on whether to open an investigation into pre-emptive power outages that blacked out large parts of the state for much of October as strong winds sparked fears of wildfires. (AP Photo/Jeff Chiu)
November 13, 2019 - 9:37 pm
SAN FRANCISCO (AP) — California regulators opened a formal investigation Wednesday into preemptive power outages that blacked out large parts of the state in October, drawing strong rebukes from public officials and residents who said the shut-offs were too broad and poorly executed. The unanimous...
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FILE- In this Jan. 23, 2019, file photo a Pacific Gas & Electric truck enters their customer center in Hayward, Calif. Pacific Gas & Electric Co. on Thursday, Nov. 7, reported a third-quarter loss of $1.62 billion, after reporting a profit in the same period a year earlier. (AP Photo/Ben Margot, File)
November 07, 2019 - 3:43 pm
Pacific Gas & Electric reported another huge loss on Thursday as the fallout from catastrophic wildfires blamed on its outdated transmission lines drive the bankrupt utility into a deeper hole. The company estimated it's facing a bill of more than $6 billion this year alone to pay for...
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November 06, 2019 - 12:16 pm
State attorneys general with pending lawsuits against OxyContin maker Purdue Pharma and its owners will ask a federal bankruptcy judge Wednesday to give them more time to continue negotiating. A temporary freeze on their lawsuits expires this week, when the judge is to decide whether to halt them...
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November 06, 2019 - 11:27 am
CHARLESTON, W.Va. (AP) — Senate Majority Leader Mitch McConnell is co-sponsoring a bill with West Virginia's two U.S. senators and others aimed at preserving the pensions of about 92,000 retired coal miners, as well as the health-care benefits of another 13,000 working miners. Democrat Joe Manchin...
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California Gov. Gavin Newsom announces the appointment of Ana Matosantos, right, as California's "energy czar" on Friday, Nov. 1, 2019, in Sacramento, California. Newsom announced Friday he was calling a meeting of Pacific Gas & Electric's executives, shareholders and creditors to resolve the utility's bankruptcy before next year's fire season. PG&E has cut off power to millions of Californians in recent weeks in an attempt to prevent wildfires started by its equipment. If a resolution can't be reached, Newsom said the state will intervene. (AP photo/Adam Beam)
November 01, 2019 - 6:07 pm
SACRAMENTO, Calif. (AP) — California's governor on Friday threatened a possible takeover of the troubled utility blamed for sparking deadly wildfires across the state with its outdated equipment unless it can emerge from bankruptcy ahead of next year's wildfire season with a plan focused on safety...
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October 30, 2019 - 11:54 am
OxyContin maker Purdue Pharma paid its CEO $9 million and its board chairman nearly $4 million in the 12 months before the company's bankruptcy filing last month, according to financial documents filed with the bankruptcy court this week. Five other board members overseeing the private company were...
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FILE - In this Aug. 20, 2007, file photo Robert Murray, founder and chairman of Cleveland-based Murray Energy Corp., arrives at a news conference at the entrance to the Crandall Canyon Mine, in northwest of Huntington, Utah. Ohio-based Murray Energy filed for Chapter 11 bankruptcy reorganization Tuesday, Oct. 29, 2019. Former CEO Robert Murray said the move was necessary to access liquidity and best position the company for long-term success. (AP Photo/Jae C. Hong, File)
October 29, 2019 - 1:42 pm
CHARLESTON, W.Va. (AP) — A major U.S. coal mining company is seeking bankruptcy protection, despite a flurry of regulatory breaks that its CEO pushed for — and received — from the Trump administration. Ohio-based Murray Energy filed for Chapter 11 bankruptcy reorganization Tuesday, joining a...
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FILE - In this March 28, 2017, file photo, a dump truck hauls coal at Contura Energy's Eagle Butte Mine near Gillette, Wyo. Tennessee-based Contura Energy announced Monday, Oct. 21, 2019, that Blackjewel closed Friday on the sale of the Eagle Butte and Belle Ayr mines to a subsidiary of Alabama-based FM Coal. (AP Photo/Mead Gruver, File)
October 24, 2019 - 9:44 am
ABINGDON, Va. (AP) — Coal miners who blocked train tracks in Kentucky demanding to get paid for the coal they mined will benefit from a federal deal with the bankrupt company. Blackjewel LLC agreed in court documents filed Monday to pay about $2.72 million in back wages to its employees in Virginia...
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James Cooke is shown buying water bottles along with propane tanks and batteries at a ACE Hardware store as he prepares for a possible power shutdown in Los Gatos, Calif., on Tuesday, Oct. 8, 2019. Millions of people were poised to lose electricity throughout northern and central California after Pacific Gas & Electric Co. announced Tuesday it would shut off power in the largest preventive outage in state history to try to avert wildfires caused by faulty lines. (Anda Chu/San Jose Mercury News via AP)
October 08, 2019 - 9:04 pm
SAN FRANCISCO (AP) — Millions of people were poised to lose electricity throughout northern and central California after Pacific Gas & Electric Co. announced Tuesday it would shut off power in the largest preventive outage in state history to try to avert wildfires caused by faulty lines. PG...
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October 03, 2019 - 4:26 pm
WHITE PLAINS, N.Y. (AP) — OxyContin maker Purdue Pharma should be prohibited from giving $38 million in employee payouts as it goes through bankruptcy, attorneys general from 24 states said in a court filing Thursday. Purdue has said it needs to make bonus payments to keep employees and maintain...
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