PG&E’s Bankruptcy Plan Should Not Be Approved

Law360 (January 24, 2020, 4:55 PM EST) -- As Law360 recently reported, California Gov. Gavin Newsom is asking the federal bankruptcy court overseeing Pacific Gas and Electric Co.’s bankruptcy to reject the plan agreed to among a group of bondholders and wildfire claimants.

Newsom’s lawyers argue that the plan does not satisfy the requirements of a new taxpayer bailout law — known as A.B. 1054 — that requires utility fire victims to be made whole as a condition of PG&E’s access to the $21 billion bailout fund for future fires.

Given this standoff, I argue that it would be legally impermissible for U.S. Bankruptcy Court Judge Dennis Montali to approve the plan, and it...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!