RK&O partner Gregory Plotko discusses rival proposals in PG&E reorganization

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October 10, 2019

On Oct. 9, Judge Dennis Montali ruled that Pacific Gas & Electric (PG&E) does not have the sole right to determine terms of its reorganization and that those who support a rival proposal, which was devised by a group of the utility’s creditors, can have their plan considered.

RK&O partner Gregory Plotko discussed the decision with POWER Magazine noting that, "Judge Montali’s goal in creating a competitive, dual-track plan process was to help ensure that wildfire victims achieve the highest possible recovery."  Mr. Plotko also explained that "the termination of exclusivity will likely cause the debtors’ stakeholders to meaningfully participate in a mediation/settlement process to resolve all major open issues relating to the estimation of wildfire claims, the treatment of bondholders, corporate governance, and the sources of new funding.”

Judge: Court Will Consider Rival Proposal for PG&E ReorganizationPOWER Magazine