Judge Backs U.S. Energy Systems Truce

Law360, New York (February 29, 2008, 12:00 AM EST) -- A federal bankruptcy judge has given his blessing to a proposed truce between U.S. Energy Systems Inc. and its largest shareholder, enabling the company to get back on track with its reorganization after weeks of distraction.

Judge Robert Drain of the U.S. Bankruptcy Court for the Southern District of New York signed off Wednesday on the governance agreement between U.S. Energy and Nakash Energy LLP, with the debtor opting to relinquish control over the makeup of the board in exchange for an end to the legal...
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