Judge opens door to PG&E noteholders filing their own reorganization plan

Judge opens door to PG&E noteholders filing their own reorganization plan

FILE PHOTO: A PG&E truck carrying an American Flag drives past PG&E repair trucks in Paradise, California, U.S. November 21, 2018. REUTERS/Elijah Nouvelage

SAN FRANCISCO (Reuters) – The judge overseeing the bankruptcy of PG&E Corp (PCG.N) on Wednesday issued an order opening the door to a group of noteholders to file their own reorganization plan for the California power provider.

U.S. Bankruptcy Judge Dennis Montali said in his order filed in U.S. Bankruptcy Court in San Francisco that allowing the noteholders to file their plan while PG&E advances its own plan may help reach a global resolution of the case.

Reporting by Jim Christie, Editing by Rosalba O’Brien

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