October 4, 2018 / 12:09 AM / 18 days ago

Bankrupt FirstEnergy looks to nail down sale of retail power business

Bankrupt electricity supplier FirstEnergy Solutions Corp will seek court approval later this month to sell its retail power business for $140 million in cash to a subsidiary of Exelon Corp, one of the biggest U.S. power generators not subject to retail rate regulations.

Judge Alan Koschik of the U.S. Bankruptcy Court in Akron, Ohio, will take up FirstEnergy Solution’s bid for an order endorsing the sale at a hearing on Oct. 26, according to a hearing notice filed on Tuesday.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2RoLL7F

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