May 18, 2020 - PG&E Corporation announced today (May 18) the preliminary voting results on PG&E Corporation and Pacific Gas and Electric Company’s joint Plan of Reorganization (the “Plan”), which indicate overwhelming acceptance of the Plan by the wildfire victims entitled to vote on the Plan.

Based on the preliminary voting results, PG&E believes that it remains on track for Plan confirmation by June 30, 2020, the deadline under AB 1054.

The preliminary results also indicate that all but one of the impaired classes have voted to accept the Plan. The sole dissenting class consists of holders of prepetition securities law claims related to PG&E Corporation common stock; these claims are subordinated pursuant to the provisions of the Bankruptcy Code.

Voting on the Plan ended on May 15, 2020. Voting results are subject to ongoing review by PrimeClerk, the balloting agent, and remain subject to change.

The final voting results for the Plan will be certified by PrimeClerk and filed with the U.S. Bankruptcy Court for the Northern District of California on or before May 22, 2020, and in advance of the company’s Plan confirmation hearing scheduled for May 27, 2020.
Source: PG&E