Entergy Nets $220M In Katrina Aid

Law360, New York (April 13, 2007, 12:00 AM EDT) -- Moving ever closer to exiting from bankruptcy, Entergy New Orleans has received a bulk of the funds necessary to complete its reorganization and emerge from Chapter 11 after the devastation of Hurricane Katrina.

On Thursday, Entergy New Orleans revealed that it had signed a contract with the Louisiana Office of Community Development that will enable the beleaguered utility to reap $171.7 million of community development block grant funding.

“Our application for CDBG funds was on behalf of the ratepayers and it will be used on a...
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