Entergy Secures Approval Of $200M In Federal Aid

Law360, New York (April 25, 2007, 12:00 AM EDT) -- A bankrupt subsidiary of energy company Entergy Corp. will receive $200 million in federal funding, marking an important step towards the company’s emergence from Chapter 11 protection.

Judge Jerry Brown of the U.S. Bankruptcy Court for the Southern District of Louisiana approved the Entergy New Orleans’ acceptance of the storm relief funds on Wednesday. Entergy has already received state approval for the federal aid, which will be used to cover $213 million in costs incurred after Hurricane Katrina.

Entergy told the court that the federal funds...
To view the full article, register now.