Potential LSP Bidder Objects To $249M Stalking Horse Deal

Law360, New York (July 24, 2012, 7:46 PM EDT) -- A potential bidder objected Tuesday to LSP Energy LP's motion to approve a $249 million stalking horse bid for its assets, arguing that the bankrupt power plant operator had engaged in stalking horse negotiations in violation of the court's approved bidding procedures.

Quantum Utility Generation LLC said South Mississippi Electric Power Association's $249 million stalking horse bid for assets primarily including a Mississippi natural gas-fired generation plant had been obtained through extensive negotiations that ignored the bankruptcy court's bidding procedures providing for an auction and sale...
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