Federal bankruptcy judge OKs PG&E’s $23 bil debt, equity financing plan

摘要

A federal bankruptcy judge in California approved a $23 billion debt andequity financing plan PG&E wants to employ to help it exit Chapter 11protection by June 30, as the state’s governor has cooled hisopposition to the utility’s plans.Judge Dennis Montali of the US Bankruptcy Court for the NorthernDistrict of California on Monday approved the plan on the same daythat PG&E’s stock took a 12% fall amidst a 3,000 point decline of theDow Jones Industrial Average.