Edison International Unit Fizzles Into Ch. 11

Law360, New York (December 17, 2012, 1:11 PM EST) -- An Edison International unit on Monday filed for bankruptcy protection in Illinois federal court after reaching an agreement on reorganization with its parent and a majority of the holders of its $3.7 billion in debt.

The Santa Ana, Calif.-based power company said under the plan, ownership of its Edison Mission Energy division would be transferred to creditors upon the bankruptcy court's approval of its Chapter 11 reorganization plan.

As of Monday, EME was deconsolidated from Edison International, which expects to report the results of EME under...
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