PG&E Corporation and Pacific Gas and Electric Company (“PG&E”) are Debtors in bankruptcy in federal court.
At a hearing on June 16, 2020, U.S. Bankruptcy Judge Dennis Montali indicated that he intends to approve the Debtors’ amended plan of reorganization. He is quoted as stating: “I’m going to come to the conclusion that the plan should be confirmed.” Judge Montali may conduct another hearing to revise the language of his expected order confirming the Plan.
Meanwhile, PG&E pleaded guilty to 84 counts of involuntary manslaughter related to the 2018 Camp Fire in a northern California county court. The company, as part of its plea agreement, agreed to pay a $3.5 million dollar fine and an additional $500,000 to cover the costs of the investigation.