reorganization plan News

California Governor Threatens To Step in and ‘Restructure’ PG&E

California Governor Gavin Newsom threatened a state takeover of PG&E Corp. unless the beleaguered utility giant makes a swift exit from bankruptcy and improves its operations to reduce the risk of wildfires. “We are gaming out a backup plan if …

Judge Strips PG&E of Exclusive Control Over Recovery Plan

California power giant PG&E Corp. was stripped of its right to exclusively pitch a reorganization plan in court, escalating an already-heated battle over the largest utility bankruptcy in U.S. history. The shares dropped more than 25% in after-hours trading. U.S. …

PG&E Says It Will File Reorganization Plan in Less Than a Month

PG&E Corp. says it expects to file its plan for reorganization with the bankruptcy court by Sept. 9 and sees emerging from Chapter 11 protection by May 1, according to a filing Monday. The bankrupt utility says in the filing …

Insurers Offer Competing Plan to Rescue PG&E from Bankruptcy

SAN FRANCISCO — Insurance companies contending that Pacific Gas & Electric owes them more than $20 billion from wildfire claims want to take over the California utility and pull it out of bankruptcy. The insurers filed court documents Tuesday to …