U.S. Judge Defers Hearing On PG&E $350 Million Bonus Plan

www.oann.com | 11/21/2018 | Staff
Fubu_chikFubu_chik (Posted by) Level 3
SAN FRANCISCO (Reuters) – A U.S. bankruptcy judge on Tuesday deferred a ruling on whether to approve or reject a motion by PG&E Corp to pay up to $350 million in bonuses to 10,000 employees after the power producer said the plan excluded senior executives and would help it fight devastating wildfires.

The judge set April 23 for the next hearing. The judge said he wants more details about how the plan would work.

PG - E - Shares - % - Trading

PG&E shares rose 0.4% to $18.90 in after-hours trading.

The plan covers 2019 and takes the place of a previously proposed 2018 bonus program for some 14,000 employees that PG&E scuttled after criticism from wildfire victims and their lawyers. The U.S. Trustee, the government’s bankruptcy watchdog, had also objected to...
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