>>4104950 (last)
>https://www.chicoer.com/2018/11/30/what-happens-if-pge-goes-bankrupt/
The article makes no specific statements about ratepayers being "on the hook" for bonds. Bonds are another claim that has to scramble for a piece of the payouts in bankruptcy.
One way to pay claims would be to issue new bonds that would, in the future, be paid by ratepayers -- unless there's another bankruptcy later of course. Rinse and repeat.
As for LL, so what? She said a nothing. What is wrong with bankruptcy as a "strategic choice" if one cannot pay continuing obligations? And even if the last one was strategic, in this case if the utility is found liable for the fire damage (this has not happened yet), the case for bankruptcy reorganization would be clear.