PG&E Judge Denies Noteholder Request to Give Their Plan Priority

The two competing proposals to reorganize the bankrupt utility PG&E will go forward together on one schedule, U.S. Bankruptcy Judge Dennis Montali said in an order filed Friday, Nov. 15.

• Montali said he was rejecting the noteholders’ argument that their plan should be given the first chance to win court approval before PG&E’s proposal
  • “Particularly in light of the progress of that plan to date,” Montali wrote.
• The noteholders motion was part of their effort to gain a procedural advantage in the bankruptcy case
• The group also argued there wasn’t a need for Montali or another judge to ...