PG&E Judge Clears Way For Rival Ch. 11 Plans
Law360 (October 9, 2019, 8:16 PM EDT) -- A U.S. bankruptcy judge Wednesday terminated Pacific Gas & Electric Co.'s exclusive right to file a Chapter 11 reorganization plan, clearing the path for a competing plan by PG&E bondholders just two days after attorneys for Northern California wildfire victims told him the utility's plan wouldn't make them whole.
"The risk that debtors' plan will not be confirmable for some reason is not worth turning away a viable alternative," U.S. Bankruptcy Judge Dennis Montali wrote in his order granting the official committee of tort claimants — which includes victims of the Northern California wildfires — and the ad hoc committee of...
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