Gov. Newsom says PG&E must quickly exit bankruptcy, begin transformation

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“It is my hope that the stakeholders in PG&E will put parochial interests aside and reach a negotiated resolution so that we can create this new company and forever put the old PG&E behind us,” said the Governor.

Moreover, he warned that the State “will not hesitate to step in and restructure” PG&E if its executives, shareholders, creditors and wildfire victims fail to reach an agreement.