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PG&E Keeps Bankruptcy Control for Now After Judge Delays Ruling

July 24, 2019, 9:50 PM

PG&E Corp. remains in exclusive control of its bankruptcy for at least another two weeks after a judge sided with California Governor Gavin Newsom’s call for more time to develop alternatives to a bondholder restructuring proposal.

Judge Dennis Montali delayed ruling on a bondholder request to end PG&E’s control so they could submit their restructuring plan, and gave the parties until Aug. 9 to see if they could come up with a process for evaluating alternative reorganization proposals. A hearing will be held Aug. 13 on the bondholder’s group motion to end PG&E’s exclusivity.

Counsel for the bondholder group, which ...

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