14
Confirmation Process
¨Bankruptcy
Judge Dennis Montali will hold separate trials to determine the
confirmability of each of the competing plans
—trial on the OCC/CPUC Plan
substantially complete
—trial
on the PG&E Plan is ongoing; PG&E amended its Plan on February 24, 2003; trial dates to continue through Spring 2003
¨Judge Dennis Montali will determine
whether one, both or neither of the competing Plans is confirmable
¨If Judge Montali determines that
both plans are confirmable, he will rule on which plan is preferable, and,
therefore, should be confirmed
—creditor preference is one of many factors Judge
Montali will consider in determining which plan is preferable
—Judge Montali will determine creditor preference at the
conclusion of the confirmation trial