PG&E Corp said in court papers on Friday it has debt financing commitments of $3...
SAN FRANCISCO - PG&E Corp said in court papers on Friday it has debt financing commitments of $34.35 billion for a planned Chapter 11 bankruptcy reorganization, countering a group of noteholders that has proposed its own reorganization plan for the California power producer.
The commitments will “fully fund” a reorganization plan so PG&E can have one confirmed by June 30, 2020, the company said. The committee representing individual wildfire victims in PG&E’s bankruptcy supports the noteholders’ plan as it would create a $14.5 billion trust to pay their claims.Lawyers for the wildfire victims committee and the noteholders group will ask U.S. Bankruptcy Judge Dennis Montali at a hearing on Monday for an order that would allow the noteholders group to file its reorganization plan.
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