(Bloomberg) — As PG&E Corp. races to salvage its restructuring after a major blow, a group of creditors trying to gain control of the bankrupt utility are using the setback to reinvigorate their own plan.The creditors, led by Pacific Investment Management Co. and Elliott Management Corp., have sent a presentation to PG&E stakeholders making the case that their plan satisfies demands raised by California Governor Gavin Newsom. The governor late Friday rejected the San Francisco-based utility’s reorganization based on concerns over the company’s board structure, safety issues and debt load.The creditor presentation, reviewed by Bloomberg, was sent to Newsom’s office …read more
Source:: Yahoo Finance
