SAN FRANCISCO: The judge overseeing the bankruptcy of PG&E Corp on Wednesday issued an order opening the door to a group of noteholders and wildfire victims to file their own reorganization plan for the California power provider.Bankruptcy Judge Dennis Montali said in his order filed in U.S.
The rival plan offers more money to wildfire victims and would give debt holders control of the company after it emerges from bankruptcy. Noteholders propose putting US$29.2 billion in new money into the San Francisco-based power provider in exchange for new debt and a controlling equity stake. "The coming weeks will permit ample time to explore and resolve issues regarding both plans," Montali added.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US man served 10 days in jail for missing jury duty after oversleeping; judge clears his recordNEW YORK (NY TIMES) - When Deandre Somerville overslept and missed jury duty in August, Judge John S. Kastrenakes was not impressed. He held Somerville in contempt, scolded him in court and slapped him with a 10-day jail sentence and one year of probation. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
PG&E to cut off power to nearly 800,000 customers to reduce wildfire riskPower provider PG&E Corp's unit said on Tuesday it would cut off power for nearly 800,000 customers across northern and central California to ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Netflix CEO says plans to open offices, pay tax in ItalyNetflix Inc plans to open offices and start paying tax in Italy, Reed Hastings, chief executive of the U.S. video streaming service said on ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
California power cutoff begin as wildfire risks riseHundreds of thousands of California homes and businesses started to lose electric power early Wednesday as part of an unprecedented effort by ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Power shut off to millions in California as wildfire risks riseLOS ANGELES: Electricity was shut off to more than 500,000 California homes and businesses on Wednesday (Oct 9) as Pacific Gas and Electric Co ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Stenson to headline Hong Kong OpenHONG KONG: Former British Open champion Henrik Stenson will be the headline act at the Hong Kong Open in November as organisers press on with the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »