SAN FRANCISCO (AP) - A federal judge has approved a settlement that moves Pacific Gas & Electric closer to getting out of bankruptcy.
The company cleared its latest hurdle Tuesday when U.S. Bankruptcy Judge Dennis Montali signed off on a deal to refinance billions of dollars in debt to pay off PG&E bondholders who threatened to cause problems.
PG&E now appears to be well-positioned to emerge from bankruptcy by June 30 if it can overcome staunch opposition from California Gov. Newsom to its plan.
PG&E has also negotiated more than $25 billion in settlements with homeowners, businesses, insurers and government agencies that claimed more than $50 billion in fire losses.
- PG&E clears another bankruptcy hurdle with debt refinancing
- PG&E Will File for Bankruptcy Protection
- PG&E: What Bankruptcy Means for the Utility
- State Lawmakers React to PG&E Bankruptcy
- PG&E Officially Files for Chapter 11 Bankruptcy
- PG&E releases new amended bankruptcy plan
- PG&E Gearing Up for Possible Bankruptcy, CA Lawmakers Say
- ICYMI: PG&E Considering Options Like Downsizing and Bankruptcy