The committee representing wildfire victims in PG&E’s bankruptcy have made their divorce from Elliott Management and other noteholders official.
- The committee
saidin court papers it “hereby withdraws as a plan proponent” of an alternative reorganization backed by Elliott and several other noteholders
- Instead the committee, whose members include fire victims who lost homes, loved ones and businesses, will join in supporting a $13.5b
plancobbled together by PG&E and its shareholders
- The end of the committee’s relationship with Elliott, Pimco, Oaktree Capital and several other major distressed investors was inevitable -- the new deal with PG&E required the breakup ...