PG&E Bankruptcy
PG&E Corp named a nearly new board of directors to guide the troubled utility after it emerges from bankruptcy, probably later this month.
Lawmakers advanced a measure that would let the state appoint a receiver or take over PG&E if the utility fails to provide safe and reliable service.
Bankruptcy attorneys representing PG&E told Judge Dennis Montali the utility’s reorganization plan is the best possible outcome for victims and ratepayers.
Fire victims unhappy with PG&E’s reorganization scheme urged U.S. Bankruptcy Judge Dennis Montali to reject it during the second day of arguments.
Attorneys began debating the merits of PG&E’s reorganization proposal during the final days of the utility’s bankruptcy case before Judge Dennis Montali.
The CPUC unanimously approved PG&E’s reorganization plan but warned it will be able to end the utility’s monopoly should it fail to ensure public safety.
PG&E’s CFO took to the virtual stand in bankruptcy court to face questions about the “feasibility” and “fairness” of the utility’s reorganization plan.
A three-day trial that could conclude the bankruptcy of PG&E began via videoconference, with Judge Dennis Montali presiding from his home.
Proceedings to conclude PG&E Corp.’s Chapter 11 reorganization will likely happen via video later this month, Judge Dennis Montali said.
The CPUC postponed its planned vote on PG&E’s bankruptcy reorganization plan because a party to the proceedings improperly sent out a mass email.
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