Sunny
59.0 ° F
Full Weather
Sponsored By:

PG&E To Get State Money

Sponsored by:

The Public Utilities Commission has approved the use of state funds to help get California´s largest utility out of bankruptcy. The PUC decided to let Pacific Gas and Electric use state money to pay the global investment banking firm UBS Warburg. The firm will create a plan to handle the bankruptcy finances of PG&E, so the utility can pay its $13.5 billion debt.

US Bankruptcy Judge Dennis Montali had ruled that PG&E wasn´t liable for the expenses to UBS Warburg. UBS Warburg estimates the partnership will cost $100,000 to $200,000. Montali will decide whether to approve PG&E´s plan for reorganization or the state´s plan at a trial set to begin in November.

Use the myMotherLode.com Keyword Search to go straight to a specific page

Popular Pages

  • Local News
  • Fire Info
  • Weather
  • Dining Guide
  • Classifieds
  • Events
  • Movies
  • Tourism
  • Polls
  • Traffic
  • Media
  • Real Estate

Use the myMotherLode.com Keyword Search to go straight to a specific page

Popular Pages

  • Local News
  • Fire Info
  • Weather
  • Dining Guide
  • Classifieds
  • Events
  • Movies
  • Tourism
  • Polls
  • Traffic
  • Media
  • Real Estate
Feedback