PG&E Shareholders, Bondholders Battle Over Future of Beleaguered Utility
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SAN FRANCISCO (KPIX) — A multi-billion-dollar liability due to devastating wildfires plunged utility giant Pacific Gas and Electric into bankruptcy. Today, the battle for the company's future isn't being fought in actual flames but with internet burns pitting shareholders against bondholders.
"This is an unprecedented level of fighting between different groups that are looking to own this company when it leaves bankruptcy," said UC Hastings bankruptcy law professor Jared Ellias.
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