October 5, 2019 / 12:12 AM / 10 days ago

Power provider Agera files for Ch. 11 to advance sale

Retail electricity and natural gas provider Agera Energy LLC sought bankruptcy protection on Friday to put itself up for a fast sale after losing funding from an equity holder and defaulting on obligations to buy renewable energy credits required by three New England states.

Agera, which is being represented by McDermott Will & Emery, said in a Chapter 11 filing in U.S. Bankruptcy Court for the Southern District of New York that it plans to sell its assets to energy provider Exelon Corp’s Constellation subsidiary for nearly $25 million unless it gets a better offer by Oct. 29.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/353XUpv

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