A federal judge agreed to give California officials two weeks to sort out competing proposals to seize control of Pacific Gas & Electric Company and pull the utility out of a bankruptcy tied to billions in wildfire claims. U.S. Bankruptcy Judge Dennis Montali's decision came after lawyers for Government Gavin Newsom and state regulators requested the time to consider the best plan and keep PG&E Corporation (NYSE:PCG) on track to resolve its bankruptcy case by June 2020. The insurers filed court papers on July 23, 2019 claiming PG&E owes them about $20 billion in reimbursements for wildfire claims. Under their plan, many of their claims against PG&E would be converted into new stock, giving them sizable ownership of the company's shares and allowing them to establish what they described as a "well-funded" trust for wildfire victims. PG&E has until September 26, 2019 to submit its own plan. Pacific Gas & Electric said it has made "significant progress in developing a viable, fair and comprehensive plan of reorganization that will compensate wildfire victims, protect customer rates, and put PG&E on a path to be the energy company our customers need and deserve."