Chevron Drops Objection To Dynegy Ch. 11 Plan After Changes

Law360, New York (August 31, 2012, 3:01 PM EDT) -- Chevron USA Inc. withdrew its objection to Dynegy Inc. and Dynegy Holdings LLC's Chapter 11 plan Friday after the parties agreed to add language saying the plan doesn't affect a settlement they are finalizing in a $4.7 million contract dispute in Texas.

Chevron is a co-defendant with DH and certain affiliates in the Texas breach of contract action, and it has indemnity claims against the debtor in connection with that suit. Chevron has a timely filed proof of claim against DH for more than $4.7 million,...
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