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A comment on PG&E Sparked at Least 1,500 California Fires, Now Faces Collapse. Parent comment

Re:PG&E Sparked at Least 1,500 California Fires, Now Faces C... by dragonwriter on Monday January 14, 2019 @04:38PM (#18906784)
> Broadly, there's nothing preventing California from seizing PG&E's assets as partial compensation for the company's past behavior.

Bankruptcy will indeed prevent that.

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Re:PG&E Sparked at Least 1,500 California Fires, Now Faces C... by gruez on Monday January 14, 2019 @04:45PM (#18906830)
Why? Bankruptcy doesn't magically cancel your debts; you have to liquidate (almost) all of you assets.
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Re:PG&E Sparked at Least 1,500 California Fires, Now Faces C... by dragonwriter on Monday January 14, 2019 @05:03PM (#18906961)
> Bankruptcy doesn't magically cancel your debts

Bankruptcy sets a legally-defined priority of creditors, and prevents execution of judgements (it doesn't stop them being found liable and establishing a debt, but it does prevent execution of the judgement, i.e., by seizing assets to satisfy the debt.)

> you have to liquidate (almost) all of you assets.

Sure, California could bid on the assets.

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