所在位置：查字典英语网 > 双语阅读 > 时事 > 国际英语资讯:U.S. court grants Californian utility sole rights to craft bankruptcy exit plan

国际英语资讯:U.S. court grants Californian utility sole rights to craft bankruptcy exit plan

发布时间：2019-08-19 编辑：查字典英语网小编

SAN FRANCISCO, Aug. 16 -- A U.S. federal judge rejected Friday a motion by a group of creditors to propose competing plans for PG&E Corporation, and gave the Californian power company sole rights to craft a bankruptcy exit plan.

Judge Dennis Montali of San Francisco-based U.S. Bankruptcy Court turned down requests from Pacific Investment Management Co. and Elliott Management Corp., which intend to propose a Chapter 11 exit plan for PG&E to restructure the California utility in a hostile takeover bid.

The judge required the two creditors to wait until PG&E submits its own plan to address the liabilities of more than 30 billion U.S. dollars claimed by victims of a deadly wildfire in 2017.

PG&E has agreed to file its own reorganization plan by Sept. 9, a little earlier than the exclusive protection period granted by the U.S. bankruptcy law.

Montali said he believes that the court's ruling in PG&E's favor would help speed up the settlement of claims by the wildfire victims.

In 2017, a deadly wildfire known as Tubbs Fire killed 22 people and destroyed more than 5,000 homes in the Santa Rosa area of North California.

After victims sued PG&E for causing the fatal wildfire with its power lines, the company, which serves nearly 16 million people in Northern and Central California, filed for bankruptcy protection in January 2019.

点击显示

上一篇： 国际英语资讯:Brexit chaos dossier dismissed by Cabinet minister as out of date

下一篇： 国内英语资讯:China to build Shenzhen into socialist demonstration area