Pacific Gas and Electric (PG&E)
PG&E’s CFO took to the virtual stand in bankruptcy court to face questions about the “feasibility” and “fairness” of the utility’s reorganization plan.
A three-day trial that could conclude the bankruptcy of PG&E began via videoconference, with Judge Dennis Montali presiding from his home.
Proceedings to conclude PG&E Corp.’s Chapter 11 reorganization will likely happen via video later this month, Judge Dennis Montali said.
The CPUC postponed its planned vote on PG&E’s bankruptcy reorganization plan because a party to the proceedings improperly sent out a mass email.
The California PUC approved a settlement with PG&E that imposes penalties of more than $1.9 billion for safety and maintenance lapses that led to wildfires.
PG&E Corp. said as part of its first-quarter earnings report that 11 of its 14 directors would be leaving its board.
The judge in charge of PG&E’s criminal probation imposed new conditions requiring the utility to do better to avoid starting wildfires.
The judge overseeing PG&E’s bankruptcy rebuffed the utility’s request to quickly approve agreements signed between it, fire victims and government agencies.
PG&E Corp. CEO Bill Johnson announced he would retire at the end of June, by which time the utility is hoping to exit bankruptcy.
The judge in the PG&E bankruptcy case prohibited the utility from paying its criminal fines from a trust fund meant to compensate fire victims.
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