Court Gives Dynegy Green Light To Exit Bankruptcy

Law360, New York (September 5, 2012, 6:03 PM EDT) -- A New York federal judge on Wednesday approved Dynegy Inc.’s Chapter 11 restructuring plan, paving the way for the power and energy services provider to emerge from a contentious bankruptcy case under the control of its creditors.

U.S. Bankruptcy Judge Cecelia G. Morris confirmed the plan at a hearing in Poughkeepsie, N.Y., bankruptcy court, the company said in a statement. The plan calls for Houston-based Dynegy to merge with its bankrupt holding company Dynegy Holdings LLC and emerge from bankruptcy by Oct. 1. Creditors will own...
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