PG&E requests second exclusivity extension to focus on plan issues

By Caroline Salls

Pittsburgh, Sept. 26 – PG&E Corp. is seeking a second extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Wednesday with the U.S. Bankruptcy Court for the Northern District of California.

Specifically, PG&E is asking the court to extend its exclusive filing period through Nov. 29 and the solicitation period through Jan. 28.

“The debtors believe the relief being sought in this motion is appropriate in view of the substantial progress that has been made in these cases, including the filing of the plan, and in view of the issues that need to be addressed prior to plan solicitation and a hearing on confirmation of the plan,” the motion said.

PG&E said it is aware that a motion has been filed by a noteholder group asking the court to terminate its exclusive periods, and the extension motion is not intended to be an effort to circumvent that request.

A hearing is scheduled for Oct. 23.

The electric and natural-gas utility is based in San Francisco. The company filed bankruptcy on Jan. 29, 2019 under Chapter 11 case number 19-30088.

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