One Wildfire Metric Threatens to Upend PG&E’s Bankruptcy (1)

Oct. 29, 2019, 10:01 AM; Updated: Oct. 29, 2019, 7:26 PM

PG&E Corp. investors looking to learn their fate may not get the answer from the bankrupt power company. Instead, the key data point could pop up within days on the website of California’s forestry service.

That’s where firefighters are tracking how many structures the Kincade fire has damaged and destroyed -- 147 as of Tuesday morning. If the tally tops 500, and it turns out that PG&E equipment started the fire, the backers of two competing reorganization plans for the San Francisco-based utility giant have the right to withdraw because of the soaring liability.

The collapse of those efforts ...

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