PG&E Bondholders Ally With Wildfire Victims to Propose New Bankruptcy Exit Plan

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PG&E Bondholders Ally With Wildfire Victims to Propose New Bankruptcy Exit Plan

Bondholders are taking another run at PG&E Corp., forming an alliance with victims of the wildfires that swept through California in 2017 and 2018 to chart a path out of bankruptcy for the state’s largest utility.

Court papers filed by a group of PG&E bondholders, including Elliott Management Corp., and by the official committee representing fire victims, asked for the green light to put a chapter 11 plan on the table that would compete with the company’s own restructuring framework.

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By Peg Brickley and Katherine Blunt

Source: The Wall Street Journal

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By |2019-09-20T18:13:29-08:00September 19th, 2019|News, Paradise, PG&E|0 Comments