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PG&E’s reorganized debtors asked to extend the General Claims objection deadline by 180 days, from June 15, 2026 to December 14, 2026, with a June 12 hearing set on the request. The claims-objection deadline extension motion says the debtors have resolved more than 15,175 of over 15,240 General Claims, covering about 99.5% of claim count and 99.4% of asserted dollars, or roughly $59.9 billion of $60.2 billion.
The remaining pool is narrow but still matters for post-emergence cleanup: General Claims include trade, customer, employment, regulatory, real property, and non-fire tort/litigation claims, while Securities Claims, Fire Victim Claims, and Subrogation Wildfire Claims are outside this motion. The extension keeps claims reconciliation active nearly six years after the July 1, 2020 effective date and gives PG&E more time to address residual negotiated, securities-related indemnity, and complex claims before the estate’s administrative tail can fully close.
PG&E Corporation opened chapter 11 on January 29, 2019 in the Northern District of California, listing more than $50 billion in assets and liabilities and 50,001 to 100,000 creditors source filing. CFO Jason Wells said the cases were driven by potential 2017 and 2018 Northern California wildfire liabilities exceeding $30 billion, alongside roughly $24 billion of funded debt, a regulated utility serving about 16 million customers, and approximately 24,000 employees; PG&E also sought $5.5 billion of DIP financing to keep the utility operating and funding safety work during the case source filing.
The court confirmed the joint plan proposed by the debtors and shareholder proponents tied to Abrams Capital and Knighthead on June 20, 2020, approving the restructuring architecture that channels fire claims into a Fire Victim Trust and incorporates major settlements with tort claimants, subrogation claimants, public entities, federal and state agencies, and noteholder constituencies source filing. The confirmed plan funded aggregate Fire Victim consideration with $5.4 billion in cash on the effective date, $1.35 billion in tax-benefit payments, $6.75 billion in new HoldCo common stock representing at least 20.9% of fully diluted reorganized equity, plus assigned litigation and insurance rights; the plan also required CPUC approval and imposed a permanent channeling injunction for Fire Claims source filing.
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