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A divided California Public Utilities Commission backed Pacific Gas & Electric Co.'s reorganization plan Thursday, setting the stage for the utility to emerge from bankruptcy early next year. CPUC commissioners voted 3-2 in favor of a controversial agreement to restructure PG&E's $12 billion in debt, bringing an end to a bankruptcy case that's dragged on for 2 1/2 years and cost hundreds of millions of dollars in legal fees.
December 19, 2003 at 12:00 AM
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The original version of this story was published on Law.Com
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