PG&E Loses Exclusivity Control of Bankruptcy Plan

The court has revoked exclusive bankruptcy rights from existing shareholders, allowing other parties like Elliott Management to propose restructuring plans. This could lead to existing shareholders being wiped out. The company's stock might fall to zero, but state intervention could prevent total collapse. To mitigate wildfire risks, the company is cutting power to some consumers, prioritizing safety over potential liabilities.

What does the court's decision about exclusive rights imply for existing shareholders?

What are the potential consequences for existing shareholders if other parties are allowed to propose bankruptcy exits?

How might the involvement of Elliott Management affect the restructuring of the company?

In what ways could the state intervene if the utility company faces severe financial difficulties?

What strategy is the company employing to manage wildfire risks, and what are the implications of this strategy?