On January 29, 2019, investor-owned Pacific Gas & Electric Company (“PG&E”) declared bankruptcy, filing a Chapter 11 reorganization petition in the United States Bankruptcy Court for the Northern District of California.1 This is PG&E’s second bankruptcy petition in as many decades, as the utility also filed for Chapter 11 bankruptcy in 2001.2 For proponents of…
Tag: Chapter 11
PEM Entities v. Levin, Does a Circuit Split Really Matter? – Analyzing Competing Approaches to Debt-to-Equity Recharacterizations in Chapter 11.
Corporate reorganizations through bankruptcy can be a messy business. When the parties who have loaned money in an attempt to rescue a company have multiple interconnected relationships, it can become even messier and the job faced by bankruptcy courts can be daunting. That is why PEM Entities v. Levin, which was granted certiorari in 2017 only…