¨Pacific Gas
& Electric, the debtor
¨Originally
filed a Plan of Reorganization under which today’s integrated utility is
split up into four disaggregated entities and creditors are paid in a
combination of cash and notes
¨Recently
filed a modified Plan of Reorganization in which, among other things,
PG&E Corp. will have to issue approximately $700 million in equity to
fund the Debtor’s reorganization
¨The
California Public Utilities Commission regulates electric, gas and water
utilities and transportation services in California
¨Filed an Alternative Plan of Reorganization (“OCC/CPUC
Plan”) with the OCC under which PG&E remains a single
integrated utility and creditors are paid in full in cash, with interest
¨Official
Committee of Unsecured Creditors in the PG&E Chapter 11 Case
¨Joined CPUC
as Co-Proponent of the OCC/CPUC Plan
¨The US
Bankruptcy Court for the Northern District of California has jurisdiction
over the case