PG&E Pays Some Creditors In Bankruptcy
Bankrupt Pacific Gas and Electric has paid $4.3 million to about a third of its creditors to settle claims of five-thousand dollars or less.
U.S. Bankruptcy Judge Dennis Montali previously approved a request by California´s largest utility to pay its debts to roughly 4,000 individuals and small businesses.
The utility asked to pay the debts early to ease the financial burden on small businesses and to allow its legal team to focus on larger claims, some of which run into the billions.
PG&E owes more than $13 billion to its creditors.