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Bruce S. Bennett (105430) 

Joshua M. Mester (194783) 

James O. Johnston (167330) 

JONES DAY 

555 South Flower Street 

Fiftieth Floor 

Los Angeles, CA 90071.2300 

Telephone: +1.213.489.3939 

Facsimile: +1.213.243.2539 

E-mail: bbennett@jonesday.com 

 jmester@jonesday.com 

 jjohnston@jonesday.com 

Attorneys for PG&E Shareholders 

UNITED STATES BANKRUPTCY COURT 

NORTHERN DISTRICT OF CALIFORNIA 

SAN FRANCISCO DIVISION 

In re: 

PG&E CORPORATION 

- and - 

PACIFIC GAS AND ELECTRIC 

COMPANY, 

Debtors. 

Bankruptcy Case 

No. 19-30088 (DM) 

Chapter 11 

(Lead Case) 

(Jointly Administered) 

VERIFIED STATEMENT OF JONES 

DAY PURSUANT TO FEDERAL RULE 

OF BANKRUPTCY PROCEDURE 2019

Affects PG&E Corporation 

Affects Pacific Gas and Electric Company 

Affects both Debtors 

* All papers shall be filed in the Lead Case, 

No. 19-30088 (DM).

Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure (the “Bankruptcy 

Rules”), Jones Day submits this verified statement (the “Statement”) with respect to certain 

beneficial holders or investment advisers or managers for certain beneficial holders of 

(a) common stock in PG&E Corporation (“PG&E”) and (b) preferred stock in Pacific Gas and 

Electric Company (the “Utility” and together with PG&E, the “Debtors”), each as identified on 

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Exhibit A hereto, (each, a “PG&E Shareholder”), and in support hereof states as follows: 

In January 2019, certain PG&E Shareholders retained Jones Day to advise them in 

connection with the Debtors’ chapter 11 cases. Other PG&E Shareholders subsequently retained 

Jones Day for the same purpose. The PG&E Shareholders hold, or manage or advise funds 

and/or accounts that hold, disclosable economic interests in relation to the Debtors. Attached 

hereto as Exhibit A is a list of the names, addresses, nature, and amount of all disclosable 

economic interests of each PG&E Shareholder in relation to the Debtors as of May 1, 2019 

(unless otherwise indicated on Exhibit A). The information set forth in Exhibit A is based on 

information provided to Jones Day by each PG&E Shareholder. Jones Day submits this 

Statement in an abundance of caution and without conceding that the provisions of Bankruptcy 

Rule 2019 apply to its representation of the PG&E Shareholders.

As of the date of this Statement, Jones Day continues to represent each PG&E 

Shareholder in connection with the Debtors’ restructuring. Jones Day does not represent or 

purport to represent any other person or entities with respect to these chapter 11 cases. Jones Day 

does not represent the PG&E Shareholders as a “committee” (as such term is used in the 

Bankruptcy Code and Bankruptcy Rules) and does not undertake to represent the interests of, and 

is not a fiduciary for, any other creditor, party in interest, or other entity. In addition, as of the 

date of this Statement, no PG&E Shareholder represents or purports to represent any other entity 

in connection with these chapter 11 cases. Moreover, no PG&E Shareholder has or is a party to 

any agreement to act as a group or in concert with respect to its interests in the Debtors and each 

PG&E Shareholder has the unrestricted right to act as it chooses in respect of such interests 

without respect to the actions or interests of any other party. 

Upon information and belief formed after due inquiry, Jones Day does not hold any 

disclosable economic interest (as that term is defined in Bankruptcy Rule 2019(a)(1)) in relation 

to PG&E. 

The undersigned verify that the foregoing is true and correct to the best of their 

knowledge, as of the date of this Statement. 

Nothing contained in this Statement is intended or shall be construed to constitute: (a) a 

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waiver or release of the rights of any PG&E Shareholder to have any final order entered by, or 

other exercise of the judicial power of the United States performed by, an Article III court; (b) a 

waiver or release of the rights of any PG&E Shareholder to have any and all final orders in any 

and all non-core matters entered only after de novo review by a United States District Judge; (c) 

consent to the jurisdiction of the Court over any matter; (d) an election of remedy; (e) a waiver or 

release of any rights any PG&E Shareholder may have to a jury trial; (f) a waiver or release of the 

right to move to withdraw the reference with respect to any matter or proceeding that may be 

commenced in the chapter 11 cases against or otherwise involving any PG&E Shareholder; (g) a 

waiver or release of any other rights, claims, actions, defenses, setoffs or recoupments to which 

any PG&E Shareholder is or may be entitled, in law or in equity, under any agreement or 

otherwise, with all such rights, claims, actions, defenses, setoffs or recoupments being expressly 

reserved; or (h) an admission or acknowledgement that Bankruptcy Rule 2019 applies to Jones 

Days’ representation of the PG&E Shareholders. 

Jones Day reserves the right to amend or supplement this Statement in accordance with 

the requirements of Bankruptcy Rule 2019 with any additional information that may become 

available. 

Dated: May 17, 2019 JONES DAY 

By: /s/ Joshua M. Mester

Joshua M. Mester 

Attorney for PG&E Shareholders 

 

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Exhibit A 

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Exhibit A 

Name and Address of PG&E 

Shareholder Disclosable Economic Interests 

683 Capital Partners, LP, on behalf of 

certain funds and accounts 

3 Columbus Circle, Suite 2205 

New York, NY 10019 

PG&E Common Shares: 

Short Call Options1: 

Short Put Options: 

2,228,100 

200,000 

700,000 

Abrams Capital Management, LP, on 

behalf of certain funds and accounts 

222 Berkeley Street, 21st Floor 

Boston, MA 02116 

PG&E Common Shares: 

Subrogation Claims: 

25,000,000 

$72,302,208 

Anchorage Capital Group, L.L.C., on 

behalf of certain funds and accounts 

610 Broadway, 6th Floor 

New York, NY 10012 

PG&E Common Shares: 

Utility Bonds: 

DIP Loan Obligations:2

23,000,000 

$384,997,000 

$20,000,000 

Caspian Capital LP, on behalf of 

certain funds and accounts 

10 East 53rd Street, 35th Floor, 

New York, NY 10022 

PG&E Common Shares: 

Utility Preferred Shares: 

Utility Bonds: 

DIP Loan Obligations: 

PG&E Revolver: 

PG&E Term Loan: 

3,056,375 

136,646 

$53,138,000 

$10,000,000 

$1,464,886 

$13,535,114 

Centerbridge Partners, L.P., on behalf 

of certain funds and accounts 

375 Park Avenue, 11th Floor 

New York, NY 10152 

 

PG&E Common Shares: 

Call Options (sold): 

Utility Preferred Shares: 

Utility Revolver: 

Utility Bonds: 

Subrogation Claims: 

6,749,417 

400,000 

80,884 

$5,000,000 

$352,763,000 

$33,170,893

 1

 Options are shown herein as exercisable shares. 

2

 DIP Loan Obligations include undrawn commitments, if any. 

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Name and Address of PG&E 

Shareholder Disclosable Economic Interests 

First Pacific Advisors, LP, on behalf 

of certain funds and accounts 

11601 Wilshire Blvd #1200 

Los Angeles, CA 90025 

PG&E Common Shares: 4,702,923 

Glendon Capital Management L.P., on 

behalf of certain funds and accounts3

1620 26th Street, Suite 2000N 

Santa Monica, CA 90404

PG&E Common Shares: 

Utility Preferred Shares: 

Utility Bonds: 

4,700 

24,406 

$8,000,000 

Governors Lane LP, on behalf of 

certain funds and accounts 

510 Madison Avenue 

New York, NY 10022 

PG&E Common Shares: 

Utility Bonds: 

547,195 

$112,291,000 

HBK Master Fund L.P., 

c/o HBK Services LLC 

2300 North Field Street, Suite 2200 

Dallas, TX 75201 

PG&E Common Shares: 

Utility Bonds: 

DIP Loan Obligations: 

Utility Revolver: 

Utility L/C Reimbursement: 

1,315,000 

$68,924,000 

$125,000,000 

$31, 072,853 

$20,691,780 

Knighthead Capital Management, 

LLC, on behalf of certain funds and 

accounts 

1140 Avenue of the Americas, 12th Fl 

New York, NY 10036 

PG&E Common Shares: 

Call Options: 

Utility Bonds: 

10,432,022 

1,709,100 

$51,760,000 

Latigo Partners, LP, on behalf of 

certain funds and accounts 

450 Park Avenue, 12th Floor 

New York, NY 10022 

PG&E Common Shares: 

Utility Bonds: 

1,560,000 

$27,000,000 

MFN Partners, LP 

222 Berkeley Street, 13th Floor 

Boston, MA 02116 

PG&E Common Shares: 

Utility Bonds: 

Subrogation Claims: 

2,000,000 

$50,250,000 

$135,566,608 

 3

 Disclosable economic interests held as of May 2, 2019. 

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Name and Address of PG&E 

Shareholder Disclosable Economic Interests 

Newtyn Management, LLC, on behalf 

of certain funds and accounts 

405 Park Avenue, Suite 1104 

New York, NY 10022 

PG&E Common Shares: 

Call Options: 

5,816,077 

200,000 

Nut Tree Master Fund, LP, by its 

investment advisor, Nut Tree Capital 

Management, LP 

Two Penn Plaza, 24th Floor 

New York, NY 10121 

PG&E Common Shares: 1,750,000 

Owl Creek Asset Management, L.P., 

on behalf of certain funds and 

accounts 

640 Fifth Avenue, 20th Floor 

New York, NY 10019 

PG&E Common Shares: 

Subrogation Claims: 

Vendor Trade Claim: 

3,979,786 

$11,043,113 

$1,048,156 

Pentwater Capital Management LP, on 

behalf of certain funds and accounts 

614 Davis Street 

Evanston, IL 60201 

PG&E Common Shares: 

Utility Bonds: 

Net Exposure Equity 

Derivatives:4

4,990,000 

$6,839,000 

(3,900,000) 

Redwood Capital Management LLC, 

on behalf of certain funds and 

accounts 

910 Sylvan Ave 

Englewood Cliffs, NJ 07632 

PG&E Common Shares: 

Utility Bonds: 

14,093,695 

$110,401,000 

Silver Point Capital, L.P., on behalf of 

certain funds and accounts 

Two Greenwich Plaza 

Greenwich, CT 06830 

PG&E Common Shares: 

Utility Bonds: 

PG&E Revolver and Term 

Loans: 

12,902,000 

$305,358,491 

$79,200,000 

 4

 Equity derivatives (long and short options and swaps) with various maturities and strike prices, net 

exposure if executed, whether or not contracts have any intrinsic value presently. 

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Name and Address of PG&E 

Shareholder Disclosable Economic Interests 

Steadfast Capital Management LP 

(“SCM”), on behalf of certain funds, 

whether advised directly by SCM or 

an affiliate thereof 

450 Park Avenue, 20th Floor 

New York, NY 10022 

PG&E Common Shares: 10,250,509 

Stonehill Capital Management LLC, 

on behalf of certain funds 

885 Third Ave., 30th Floor 

New York, NY 10022 

PG&E Common Shares: 

Utility Preferred Shares: 

Utility Bonds: 

5,916,598 

796,633 

$28,464,000 

Warlander Asset Management, LP, on 

behalf of certain funds and accounts 

250 West 55th Street, 33rd Floor 

New York, NY 10019 

 

PG&E Common Shares: 

Call Options: 

492,776 

6,081,600 

York Capital Management Global 

Advisors, LLC, on behalf of certain 

funds and/or accounts managed or 

advised by it or its affiliates 

767 5th Avenue, 17th Floor 

New York, NY 10153 

PG&E Common Shares: 

Utility Bonds: 

4,627,465 

$245,330,000 

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