PG&E’s Bankruptcy Judge Opens the Door to Rival Chapter 11 Exit Plan – The Wall Street Journal

The judge commanding PG&E Corp.’s personal bankruptcy handed investors a loss, opening the door to a competition over the very best path out of personal bankruptcy that pits the troubled utility against shareholders led by Elliott Management Corp.

. Judge Dennis Montali of the U.S. Bankruptcy Court in San Francisco cleared the method for a rival chapter 11 plan from Elliott and other shareholders that are allied with victims of wildfires that drove PG&E to personal bankruptcy. His judgment stripped PG&E of the sole right to propose a chapter 11 …

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