P G And E Plan Ok’d
A federal bankruptcy judge has tentatively approved a major component of Pacific Gas and Electric Company´s reorganization plan.
P-G-and-E must file the latest version of its disclosure statement by April 19th. The statement helps creditors understand how the plan will affect them.
P-G-and-E hopes to transfer eight billion dollars in assets into federally regulated companies under its parent company, allowing it to borrow more money to pay its debt.
The state Public Utilities Commission plans to file its own plan Monday.