PG&E Lawyer Asks for Bankruptcy Confirmation in Closing Argument

PG&E lawyer Stephen Karotkin told the judge overseeing the company’s bankruptcy that its reorganization plan meets all requirements needed for confirmation.

• PG&E’s plan has received overwhelming support from wildfire victims, California’s governor, state regulators and other key parties, Karotkin said Wednesday during a closing argument before U.S. Bankruptcy Judge Dennis Montali
• PG&E has lined up financing for its plan to become effective, and debtors will have “more than adequate” financial resources to deal with any contingencies including potential future wildfire claims
• If the plan is not confirmed, payments to fire victims would be delayed for months or years, and critical ...