California governor Gavin Newsom rejects PG&E bankruptcy plan

California governor Gavin Newsom rejects PG&E bankruptcy plan

California Governor Gavin Newsom on Friday rejected a bankruptcy reorganization plan submitted by PG&E Corp., the state’s largest investor-owned utility, saying its proposal fails to meet the requirements of a recently enacted wildfire law. The decision by Newsom, sent to PG&E in a letter, complicates the company’s push to exit bankruptcy and provide billions of … Read more…

California governor rejects PG&E bankruptcy reorganization plan

California governor rejects PG&E bankruptcy reorganization plan

The logo for Pacific Gas & Electric Co. appears above a trading post on the floor of the New York Stock Exchange, Monday, Jan. 14, 2019. Richard Drew | AP California Governor Gavin Newsom on Friday rejected a bankruptcy reorganization plan submitted by PG&E Corp, the state’s largest investor-owned utility, saying its proposal fails to … Read more…