Bankruptcy
Dec. 10, 2019
Govenor, US judge still need to approve PG&E deal
Gavin Newsom’s office has yet to signal its approval after the deal was reached Friday evening.
The Pacific Gas & Electric Corp. may have cleared its most formidable hurdle to exit bankruptcy by agreeing to a $13.5 billion settlement with wildfire victims, but it remains unclear whether the utility has secured the sustainable financing necessary to push the deal past the governor’s office and the federal judge overseeing its reorganization.
Both parties can reject the landmark agreement if it doesn’t anchor a confirmable ...
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