1. PG&E Loses Exclusivity Control of Bankruptcy Plan  Bloomberg Markets and Finance
  2. PG&E hit after judge opens door to rival bankruptcy plan  Financial Times
  3. PG&E's bankruptcy judge opens the door to rival chapter 11 exit plan  CNBC
  4. PG&E Plunges on Fear of Total Wipeout by New Bankruptcy Plan  Bloomberg
  5. Judge opens door to PG&E wildfire victims, noteholders filing rival reorganization plan  Reuters
  6. View full coverage on Google News

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The decision is a major setback for the hedge funds which now own much of the utility’s shares. <p>The decision is a major setback for the hedge funds which now own much of the utility’s shares.</p>

PG&E bankruptcy judge lets fire victims move forward with restructuring plan - SFChronicle.com

Judge opens door to PG&E noteholders to file their own reorganization planJudge opens door to PG&E noteholders to file their own reorganization plan

The judge overseeing the bankruptcy of PG&E Corp on Wednesday issued an order opening the door to a group of noteholders and wildfire victims to file their own reorganization plan for the California power provider.The judge overseeing the bankruptcy of PG&E Corp on Wednesday issued an order op...

Judge opens door to PG&E wildfire victims, noteholders filing rival reorganization plan - Reuters

A judge ruled late Wednesday that a bondholder group can propose a plan for PG&E’s exit from bankruptcy. It was a major victory for bondholders, who now have a chance to wrest control of the company from its shareholders.A judge ruled late Wednesday that a bondholder group can propose a plan for PG&E’s exit from bankruptcy. It was a major victory for bondholders, who now have a chance to wrest control of the company from its shareholders.

PG&E Stock Slumps as Judge’s Ruling Increases Bankruptcy Risks for Shareholders - Barron's

Just as California power giant PG&E was rolling out an unprecedented blackout to avoid sparking new wildfires, it was dealt a blow in its bankruptcy case. U.S. Bankruptcy Judge Dennis Montali on late Wednesday stripped the utility of exclusive control over its reorganization process. Shares dropped more than 25% in after-hours trading. The decision escalates an already-heated battle for control of the largest utility bankruptcy in U.S. history. Montali agreed to let bondholders including Pacific Investment Management Co. and Elliott Management Corp. pitch their own restructuring plan alongside PG&E's, so they can both come up with ways the utility could deal with an estimated $30 billion in wildfire liabilities. The damages, tied to blazes that its equipment ignited, forced the utility to file for Chapter 11 in January. The loss of exclusivity is the latest twist in a massive bankruptcy case that has already attracted some of the biggest names in the financial world. A group led by Pimco and Elliott has devised a plan that would all but wipe out the stake of current shareholders in the utility. Montali's ruling hit just as PG&E was cutting power to hundreds of thousands of homes and businesses in Northern California in the first phase of an orchestrated shutoff designed to keep its power lines from igniting blazes. The creditors, including the fire victims, have "spoken loudly and clearly that they want their" proposal to be considered, Montali said in his ruling. While PG&E's plan is "on track as well as can be expected," he wrote, so is the competing version from creditors. The court denied requests by other parties to let them offer recovery plans, too. "We are disappointed that the Bankruptcy Court has opened the door to consideration of a plan...

PG&E loses exclusive control of bankruptcy as blackouts roll on - SFGate

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PG&E Corp. shares plunged 31 per cent as it grappled with a court ruling that threatens to put the fate of the bankrupt power giant in the hands of outsiders and perhaps wipe out the value of the stock.

PG&E plunges on fear of total wipeout by rival bankruptcy plan - BNN Bloomberg

California power giant PG&E Corp. was stripped of its right to exclusively pitch a reorganization plan in court, escalating an already heated battle over the largest utility bankruptcy in U.S. history.California power giant PG&E Corp. was stripped of its right to exclusively pitch a reorganization plan in court, escalating an already heated battle over the largest utility bankruptcy in U.S. history.

PG&E loses exclusive control of its bankruptcy recovery plan - Los Angeles Times

Terms offered by bondholders and victims’ lawyers will compete with the utility’s own reorganization proposal, a move that could encourage a deal.Terms offered by bondholders and victims’ lawyers will compete with the utility’s own reorganization proposal, a move that could encourage a deal.

(Bloomberg) -- Just as California power giant PG&E Corp. was rolling out an unprecedented blackout to avoid sparking new wildfires, it was dealt a blow in its bankruptcy case.U.S. Bankruptcy Judge Dennis Montali on late Wednesday stripped the utility of exclusive control over its reorganization process(Bloomberg) -- Just as California power giant PG&E Corp. was rolling out an unprecedented blackout to avoid sparking new wildfires, it was dealt a blow in its bankruptcy case.U.S. Bankruptcy Judge Dennis Montali on late Wednesday stripped the utility of exclusive control over its reorganization process

PG&E Loses Exclusive Control Of Bankruptcy as Blackouts Roll On

Victims of the deadly wildfires started by Pacific Gas and Electric and a group of Wall Street hedge funds are working together to seize control of theVictims of the deadly wildfires started by Pacific Gas and Electric and a group of Wall Street hedge funds are working together to seize control of the

Court to decide the winner of a proposed PG&E takeover