Embattled utility owner PG&E says it can find its own way out of bankruptcy, but creditors disagree
Faced with losing control of a multibillion-dollar bankruptcy process, PG&E Corp. promised to swiftly file a chapter 11 exit plan with financial backing in a bid to keep the company’s fate in its own hands.
Two contingents of creditors are anxious to propose their own strategy to lift PG&E out of bankruptcy, and they need a judge to clear the way. The utility owner has opposed the request, and asked to hold on to the exclusive right to file a chapter 11 plan. Bondholders and other investors said PG&E’s pledge of...
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