Dynegy Creditors OK Ch. 11 Plan As Potential Class Objects

Law360, New York (August 27, 2012, 1:57 PM EDT) -- Dynegy Inc. and Dynegy Holdings LLC creditors on Monday approved the power company's Chapter 11 reorganization plan, shortly after one shareholder alleged the plan would sabotage a putative class action over a coal asset transfer.

Dynegy and its subsidiary said 87 percent of the creditors who voted approved the plan, which is set for a confirmation hearing Sept. 5. With a successful creditor vote, the debtors said they anticipated a smooth ride out of bankruptcy. After emerging from Chapter 11, they said, they will appoint a...
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