Bankruptcy, Bad?

Deck: 

MACRUC 25 and Live!

Fortnightly Magazine - August 2020
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This session examined the separate functions and processes of regulators in the bankruptcy courts and was moderated by West Virginia Public Service Commission Chair Charlotte Lane. Also taking part were Virginia State Corporation Commission Chair Mark ChristieKentucky Public Service Commission Commissioner Robert Cicero, former Chief Judge of the U.S. Bankruptcy Court for the Southern District of West Virginia, Ronald G. Pearson, and Chair of the Board of PG&E, former FERC and Pennsylvania PUC Commissioner, NARUC President Emeritus, Nora Mead Brownell.

Chair of the Board of PG&E, Nora Mead Brownell: My plan, frankly, was we would emerge from bankruptcy having dealt with some of the internal issues more effectively, and probably the company would be sold in six months, which is certainly what the Governor wanted and said, and announced that Warren Buffett was a potential buyer. Warren Buffett said there are too many people who want too much. Too many constituencies demanding too much in California. I'm not interested in buying it. And so, I think it's just a reset, maybe, of how the Commission operates, as well as the political expectations.

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