SAN FRANCISCO, Calif. — PG&E Corporation and Pacific Gas and Electric Company (together, "PG&E") are sharing a reminder that the deadline for eligible parties to vote on PG&E's Chapter 11 Plan of Reorganization (the "Plan") is in two weeks. All ballots must be received by the Court-appointed solicitation agent, Prime Clerk, by May 15, 2020, at 4:00 p.m. Pacific Time (PT) to be counted.
PG&E previously sent voting materials to approximately 250,000 parties entitled to vote on PG&E's Plan, including fire claimants, certain holders of prepetition funded debt and other creditors, and shareholders.
Voting parties may direct questions regarding the process for submitting ballots to their own legal counsel or Prime Clerk at (888) 909-0100. Please note that Prime Clerk cannot provide legal advice.
Voting Package and Procedures
The voting materials generally include the following:
- The Bankruptcy Court's order approving PG&E's Disclosure Statement and voting materials and procedures;
- A legal notice advising parties of the May 27, 2020, date of the commencement of the Plan confirmation hearing before the Bankruptcy Court, which is when the Court will consider whether PG&E's Plan meets the requirements for confirmation under the Bankruptcy Code;
- PG&E's court-approved Disclosure Statement (including a supplement to the Disclosure Statement regarding recent events in the Chapter 11 cases), with respect to PG&E's Plan, with the full Plan attached; and
- A ballot to vote to accept or reject PG&E's Plan and a return envelope with prepaid postage. For certain fire victims, voting materials may not include a ballot if those claimants are to be included on a master ballot to be submitted by their attorneys.
A copy of the Disclosure Statement can be accessed here. All parties are encouraged to review the Disclosure Statement and the Plan in their entirety.
Parties may vote electronically, by mail or hand delivery as described below. Ballots must be received by Prime Clerk by May 15, 2020, at 4:00 p.m. PT and can be submitted in the following ways:
PG&E Ballot Processing
c/o Prime Clerk, LLC
One Grand Central Place
60 East 42nd Street, Suite 1440
New York, NY 10165
- By hand delivery to Prime Clerk in New York City at the above address. Parties need to email Prime Clerk in advance at email@example.com to coordinate hand delivery.
Parties not eligible to vote on the Plan were sent a notice of their non-voting status. Non-voting parties include those with claims or interests in classes that are unimpaired under the Plan and therefore presumed to have accepted the Plan or are otherwise deemed not entitled to vote on the Plan.
About PG&E Corporation
PG&E Corporation (NYSE: PCG) is a holding company headquartered in San Francisco. It is the parent company of Pacific Gas and Electric Company, an energy company that serves 16 million Californians across a 70,000-square-mile service area in Northern and Central California. Each of PG&E Corporation and the Utility is a separate entity, with distinct creditors and claimants, and is subject to separate laws, rules and regulations. For more information, visit http://www.42chongdong.com. In this press release, they are together referred to as "PG&E."
This press release contains forward-looking statements that are not historical facts, including statements about the beliefs, expectations, estimates, future plans and strategies of PG&E Corporation and the Utility, as well as forecasts and estimates regarding timing of PG&E Corporation's and the Utility's emergence from Chapter 11, the Utility's participation in the statewide wildfire fund created by AB 1054, factors affecting PG&E Corporation's 2020 non-GAAP core earnings, and PG&E Corporation's 2020 non-core items guidance. These statements are based on current expectations and assumptions, which management believes are reasonable, and on information currently available to management, but are necessarily subject to various risks and uncertainties. In addition to the risk that these assumptions prove to be inaccurate, factors that could cause actual results to differ materially from those contemplated by the forward-looking statements include factors disclosed in PG&E Corporation's and the Utility's annual report on Form 10-K for the year ended December 31, 2019, and other reports filed with the SEC, which are available on PG&E Corporation's website at www.42chongdong.com and on the SEC website at www.sec.gov. Additional factors include, but are not limited to, those associated with the Chapter 11 cases of PG&E Corporation and the Utility that commenced on January 29, 2019. PG&E Corporation and the Utility undertake no obligation to publicly update or revise any forward-looking statements, whether due to new information, future events or otherwise, except to the extent required by law.