PG&E faces potential showdown over its bankruptcy plan – Missouri Lawyers Media

PG&E faces potential showdown over its bankruptcy plan – Missouri Lawyers Media: California Gov. Gavin Newsom is stepping up pressure on Pacific Gas & Electric to fork over billions more in cash to pay thousands of people who lost homes in wildfires that drove the utility into bankruptcy. The rising tensions were scheduled to be aired out in a bankruptcy court hearing Wednesday, but it was abruptly postponed on Tuesday to Nov. 19. The delay could allow the sides to negotiate a compromise on PG&E's blueprint for its financial revival. If PG&E doesn't make changes, Newsom is threatening to try to turn the utility into a customer-owned cooperative run by the state and local governments. In an objection filed Saturday, Newsom's lawyers accused  PG&E and other parties of protecting their own financial interests instead of focusing on a fair resolution before July 2020 — a deadline that California lawmakers have set for the utility to emerge from bankruptcy. PG&E disputed Newsom's characterization of its plan, asserting in a statement that it "remains