Judge Approves PG&E Settlement, Debt Refinancing

KTLA-


A federal judge on Tuesday approved a settlement that moves Pacific Gas & Electric closer to getting out of bankruptcy, but the troubled utility still must navigate nettlesome obstacles from the state of California.

U.S. Bankruptcy Judge Dennis Montali signed off on the deal to refinance billions of dollars in debt to pay off PG&E bondholders.

The bondholders had threatened to cause problems for the nation’s largest utility. But as part of the truce, they agreed to abandon an alternative plan for getting PG&E out of bankruptcy and support the company’s blueprint.

Read More

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s