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Front Page

Jul. 24, 2002

PUC Plan Near Death as Montali Denies Fee Payment

SAN FRANCISCO - A federal bankruptcy judge sounded what may be the death knell for the state's alternative plan to lift Pacific Gas and Electric Co. out of bankruptcy Monday by refusing to authorize payment of $8 million in fees to an investment firm willing to raise $7.5 billion to repay creditors.

By Pamela A. MacLean
Daily Journal Staff Writer
        SAN FRANCISCO - A federal bankruptcy judge sounded what may be the death knell for the state's alternative plan to lift Pacific Gas and Electric Co. out of bankruptcy Monday by refusing to authorize payment of $8 million in fees to an investment firm willing to raise $7.5 billion to repay creditors.
      ...

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