Longview Power Hits Ch. 11, Citing Problems At $2B Plant
By Matt Chiappardi
Law360, Wilmington (August 30, 2013, 3:40 PM ET) -- Longview Power LLC, which operates a $2 billion power plant in West Virginia, and its coal mining affiliate Mepco Holdings LLC filed for Chapter 11 protection Friday, after its main facility was hampered by defects and failures the company blames on a group of contractors including Siemens Energy Inc.
Longview President and CEO Jeffrey J. Keffer said that the company’s need to restructure its roughly $1 billion in debt came to a head after the coal plant in West Virginia suffered myriad design, construction and equipment...