SAN FRANCISCO - PG&E Corp said in court papers on Friday it has debt financing commitments of $34.35 billion for a planned Chapter 11 bankruptcy reorganization, countering a group of noteholders that has proposed its own reorganization plan for the California power producer.
The commitments will “fully fund” a reorganization plan so PG&E can have one confirmed by June 30, 2020, the company said. The committee representing individual wildfire victims in PG&E’s bankruptcy supports the noteholders’ plan as it would create a $14.5 billion trust to pay their claims.Lawyers for the wildfire victims committee and the noteholders group will ask U.S. Bankruptcy Judge Dennis Montali at a hearing on Monday for an order that would allow the noteholders group to file its reorganization plan.
Erin Brokowitch's fault
If we only had more union reps and higher wages I’m sure they wouldn’t be bankrupt
Pg&e needs to pay to those lives theyve lost to all the fires theyve caused and burned homes and killed with their equiptment whens that ever gonna happen such as mine. Stop trying to get out of it by filing for chapter 11
Of course it does. My PG&E bill was $200 last month. For one person. 🙄
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Source: Reuters - 🏆 2. / 97 Read more »