(Bloomberg) — The biggest utility bankruptcy in U.S. history is drawing to a close after PG&E Corp. reached a deal with California Governor Gavin Newsom over the company’s restructuring plan.As part of the agreement, the embattled utility will overhaul its board and state regulators will gain increased oversight of the company, according to a bankruptcy court filing Friday. If PG&E fails to get its Chapter 11 plan confirmed by June 30 and exit by year end, it will appoint a “chief transition officer” and begin a process to sell the company, according to the agreement.“This is the end of business …read more
Source:: Yahoo Finance
