PG&E's Share Terms For Fire Survivors Unfair, Judge Told

Law360, San Francisco (June 5, 2020, 10:41 PM EDT) -- Wildfire survivors on Friday urged a California federal judge overseeing Pacific Gas and Electric Co.'s $59 billion chapter 11 reorganization plan to ensure that they don't have to wait years to liquidate the PG&E stock in their wildfire liability settlement, saying PG&E can't give other shareholders better terms.

Robert Julian of BakerHostetler, co-counsel for the official committee of tort claimants, which represents over 70,000 Northern California wildfire survivors' interests, told U.S. Bankruptcy Judge Dennis Montali that he supports the debtors' reorganization plan so long as wildfire survivors receive the same rights provided to other shareholders.

"All registration rights agreements with the...

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