PG&E Bankruptcy News

Members who own PG&E shares may have received a package and ballot concerning PG&E’s plan for reorganization in bankruptcy.  We believe that the plan is well-balanced and good for our members.  We encourage our members who are sent a ballot to vote ‘yes’ and return the ballot. If you have any questions, you may send… [Read More]

PG&E Corporation announced on Wednesday that its chief executive officer and president, William D. “Bill” Johnson, has decided to retire from the company. His retirement will become effective on June 30,  which is expected to be after the company’s reorganization plan confirmed by the bankruptcy court.

Pacific Gas & Electric (PG&E) is in the midst of its second bankruptcy. While the first proceeding in 2001 stemmed from California’s energy crisis, the current stems from the utility’s role in recent wildfires and its resulting liabilities. PG&E initially expected the proceeding to last two years. However, in order to qualify for the state’s… [Read More]

A California Public Utilities Commission (CPUC) administrative law judge issued a proposed decision Monday that would approve Pacific Gas & Electric’s (PG&E) bankruptcy reorganization plan, paving the way for the utility to exit Chapter 11 bankruptcy by June 30. A separate proposal from CPUC Commissioner Clifford Rechtschaffen, issued the same day, would also require PG&E to pay penalties… [Read More]

Pacific Gas and Electric Co.’s recent progress with its bankruptcy case appears to have blocked Sen. Scott Wiener’s legislative push for a government takeover of the company — at least for now. Wiener, D-San Francisco, told The Chronicle that his bill, SB917, probably will not move forward this year largely because of a recent deal that resolves a… [Read More]

Victims of wildfires caused by PG&E Corp. are seeking to upend its deal to exit bankruptcy. Two members of the claimants’ committee that represents fire victims in the giant California utility’s chapter 11 case resigned late last month and said they would campaign to defeat the exit plan.

Victims of wildfires blamed on PG&E’s equipment are concerned the sell-off on Wall Street could hobble stock payments that make up half of a $13.5 billion settlement over claims from the blazes, said Robert Julian, an attorney for the victims.