California governor rejects PG&E bankruptcy reorganization plan

FILE PHOTO: PG&E works on power lines to repair damage caused by the Camp Fire in Paradise, California, U.S. November 21, 2018. REUTERS/Elijah Nouvelage/File Photo

(Reuters) – California Governor Gavin Newsom on Friday rejected a bankruptcy reorganization plan submitted by PG&E Corp (PCG.N), the state’s largest investor-owned utility, saying its proposal fails to meet the requirements of a recently enacted wildfire law. The decision by Newsom, sent to PG&E in a letter, complicates the company’s push to exit bankruptcy and […]

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