Friday's decision by the Pacific Gas and Electric Co. to file for Chapter 11 bankruptcy protection effectively shifts responsibility for the utility's future from state leaders to a federal judge, one who doesn't necessarily need to look out for consumer interests. With near-monarchical powers, Judge Dennis Montali temporarily could double electricity bills. He could unravel Gov. Gray Davis' hopes of buying the state's electric grid. Legally, the biggest creditors have the loudest voices in a bankruptcy.
Customers generally have none.
Now we're down to creditors and debtors. As the historic bankruptcy case unfolds in San Francisco, the fate of consumers will be just one of a multitude of unknowns in the state's power future and its repercussions for California's economy. The money went to everyone from file clerks to company directors, but excluded company officers, Nelson said. Before his appointment eight years ago, Montali was a prominent San Francisco bankruptcy lawyer who tackled major cases. He's a workaholic.