August 27, 2018 / 9:19 PM / 3 months ago

FirstEnergy unveils $1 bln settlement as cornerstone for bankruptcy exit

SAN FRANCISCO (Reuters) -

Power supplier FirstEnergy Solutions Corp has filed court papers outlining a deal for its parent company and affiliates not involved in its bankruptcy to contribute more than $1 billion of value to its estate.

The settlement between creditors of First Energy Solutions and its parent, utility FirstEnergy Corp, marks a “critical milestone” and establishes the “cornerstone” for a reorganization plan, the former said in papers filed on Sunday seeking approval of the deal in U.S. Bankruptcy Court for the Northern District of Ohio.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2PGa6VP

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below