PG&E May Rank Among Most Expensive Bankrupty Cases Ever Filed
PG&E May Rank Among Most Expensive Bankrupty Cases Ever Filed
(Bloomberg) -- PG&E Corp.’s bankruptcy may end up being one of the costliest ones ever filed, according to the U.S. Trustee, a federal agency that oversees restructuring cases.
The trustee warned of this potential notoriety in a court filing. It also raised issues with bills filed in PG&E’s case, saying some legal firms appeared to have overstaffed meetings, logged questionably high hours and submitted travel and meal expenses that shouldn’t have been allowed. While the agency voiced its concerns last week, they drew attention on Thursday as a consumer rights group, The Utility Reform Network, called on the court to disallow fees, citing “egregious billing practices.”
To contact the reporter on this story: Mark Chediak in San Francisco at mchediak@bloomberg.net
To contact the editors responsible for this story: Lynn Doan at ldoan6@bloomberg.net, Catherine Traywick
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