The same day PG &E customers were in the dark due to the Public Safety Power Shutoff,
Judge Dennis Montali of the U.S. Bankruptcy Court in San Francisco, cleared the way for a rival chapter 11 plan from Elliott and other bondholders as the best path for PG & E to get out of bankruptcy.
Judge Montali Judge ruled on yesterday PG & E, doesn’t have the ability to solely control its reorganization. This caused the utility company shares to plummet to their lowest level since January.
This post includes information from Fox News Business and Barron.
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