news-events

Attorney General's Suit Against PG&E Corporation Transferred To Bankruptcy Court

02/08/2002

(San Francisco, CA) - PG&E Corporation (NYSE:PCG) today filed a motion transferring the lawsuit filed against it by the California Attorney General from San Francisco Superior Court to the Northern District U.S. Bankruptcy Court. The transfer is effective immediately.

"The attorney general's complaint is without merit, and clearly appears to be part of his ongoing efforts to obstruct our utility's plans for emerging from bankruptcy," said Bruce Worthington, Senior Vice President and General Counsel for PG&E Corporation. "It makes sense for the complaint to be moved to Bankruptcy Court, which has original and exclusive jurisdiction of claims involved in the bankruptcy process and participation in that process."

The attorney general's complaint alleges that PG&E Corporation and its directors made improper use of the Bankruptcy Court by virtue of PG&E Corporation's co-sponsoring of the pending Plan of Reorganization. It also seeks restitution of assets allegedly wrongfully transferred to PG&E Corporation from Pacific Gas and Electric Company.

"While both allegations are patently absurd, both provide grounds to transfer this case to Bankruptcy Court," said Worthington.

The financial transactions cited by the attorney general have been thoroughly reviewed and audited multiple times - by the California Public Utilities Commission, and by the state Legislature - with no findings that the transactions were anything but entirely appropriate and legal.

RSS

Shareholder Information

EQ Shareowner Services
Transfer Agent
1-888-489-4689

PG&E Shareholder Services
CorporateSecretary@pge.com

Investor Relations Contact Info

invrel@pge-corp.com

Receive Email Alerts

Email Address *
Mailing Lists *



 
Enter the code shown above.