Pa. Power Plant Funding Entity Hits Ch. 11 With Debt Plan

Law360, Wilmington (November 6, 2012, 6:13 PM EST) -- Homer City Funding LLC, a funding vehicle for a coal-fired power plant in Western Pennsylvania, filed for bankruptcy in Delaware on Tuesday with a plan in hand to restructure some $640 million in bond debt.

The company — whose associated 1884-megawatt power plant is located 45 miles outside of Pittsburgh — listed both assets and debt between $500 million and $1 billion in its bankruptcy petition.

Homer City was created in 2001 solely to issue bonds as part of a deal where General Electric Capital Corp....
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