Reliant's $500M Sale Of Channelview Plant Gets Nod

Law360, New York (June 10, 2008, 12:00 AM EDT) -- A bankruptcy judge signed off Monday on Reliant Energy Inc.'s sale of its Channelview plant to GIM Channelview Cogeneration LLC for $500 million, negating an earlier sale the same judge approved on the condition that an open auction be held.

Reliant said in a filing with the U.S. Securities and Exchange Commission on Tuesday that it expects the sale of the plant will provide enough money to end bankruptcy proceedings for the company's Reliant Energy Channelview LP subsidiary, which filed for Chapter 11 in August....
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