Edison Mission Energy

Edison Mission Energy (EME) used to be an independent power producer based in California. On December 17, 2012, EME filed for Chapter 11 Bankruptcy Protection with a proposal to transfer control of the company to holders of $3.7 billion in unsecured bonds.[1] The reorganization plan was approved in March 2014 by the U.S. Bankruptcy Court. "Under the Plan of Reorganization and consistent with the Settlement Agreement, EME will emerge from bankruptcy free of liabilities and remain a subsidiary of Edison International. All assets and liabilities of EME that are not otherwise discharged in the bankruptcy or sold to NRG Energy, Inc. will be transferred to a newly-formed trust under the control of EME’s creditors, other than certain income tax and pension related liabilities being assumed by Edison International under the Settlement Agreement." (Edison International, 2014)

External links

http://newsroom.edison.com/releases/edison-mission-energy-plan-of-reorganization-approved-by-u-s-bankruptcy-court

References

  1. ↑ "Edison Mission Energy files for bankruptcy". Reuters. December 17, 2012.


This article is issued from Wikipedia - version of the 7/7/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.