Why in the heck is PG&E up 14 percent today? They filed chapter 11 this morning.?
and at least two investment groups are aiming to offer $4 billion if they bankruptcy is voided -- seems they think the company is worth more alive than dead
Declaring bankruptcy apparently gets them out of having to pay for all the damages their power lines caused.
Chapter 11 and chapter 7 are two different things... Chapter 7 - company is liquidated and destroyed Chapter 11 - means a negotiation and a restructuring of debt Someone sees some value there, so they are buying...