July 23, 2019 / 12:25 AM / a month ago

Bondholders aim for driver’s seat in bid to shut down PG&E’s exclusive period

PG&E Corp at a hearing on Wednesday will square off against bondholders who want to take control of the bankrupt power producer by terminating its exclusive period in which it has the sole right to file a reorganization plan.

The bondholders last month in a filing in U.S. Bankruptcy Court in San Francisco sought an order immediately terminating the period so they could file their own reorganization plan for PG&E, which sought Chapter 11 protection in January anticipating liabilities stemming from wildfires blamed on its equipment potentially topping $30 billion.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2y2DJca

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