That’s essentially what will happen, the only problem is given the political climate in California, no reputable company will buy the assets and be subject to the same laws that bankrupted PG&E to begin with...
The only one left is the State Government who will get the assets relatively cheaply...
The current stockholders of PG&E stock are going to get wiped out....
... The current stockholders of PG&E stock are going to get wiped out....
Probably a lot of retirement funds, another nail in the retirement coffin
92.86% Shares Held by Institutions
https://finance.yahoo.com/quote/PCG/holders
Supposedly Gruesome was trying to talk Warren Buffet into buying PG&E.
Buffet may be a lib (for political convenience) but he ain’t stupid.