Entergy Faces Competition Over Chapter 11 Plan

Law360, New York (October 26, 2006, 12:00 AM EDT) -- On the heels of bankrupt utility Entergy New Orleans submitting a Chapter 11 plan, an insurer in the case is seeking to present its own restructuring proposal after blasting the company’s pitch.

On Tuesday, Financial Guaranty Insurance Co. filed papers in U.S. Bankruptcy Court for the Eastern District of Louisiana contending that it was ready to submit a Chapter 11 plan that would help accelerate payments to creditors, among other promises.

Earlier this week, after months of wrangling, Entergy New Orleans submitted a plan of reorganization...
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