The U.S. Supreme Court declined to review whether solvent companies can move through bankruptcy without paying prepayment penalties and contractual interest, a question that has divided judges nationwide.
The nation’s highest court said Monday it wouldn’t hear separate appeals from California utility PG&E and natural-gas driller Ultra Petroleum, which argued that bankruptcy law should let them off the hook for $200 million and $387 million, respectively, that lower courts ordered them to pay to their creditors.
Both…
This article was written by and originally published on www.wsj.com