May 21, 2019 / 9:41 PM / a month ago

PG&E: Ch. 11 exclusive-period extensions critical for stability

Power provider PG&E Corp on Monday defended its bid for a court order for six-month extensions to the periods in its bankruptcy giving it the sole right to file and gather stakeholder support for a reorganization plan, saying its stability would be undermined without more time.

PG&E in a filing by counsel Stephen Karotkin of Weil Gotshal & Manges also argued it needs more time for its exclusive periods because “fundamental issues” in its bankruptcy must be addressed before work starts on a reorganization plan.

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