Mirant, Southern Settle Spinoff Spat For $202M

Law360, New York (April 2, 2009, 12:00 AM EDT) -- Putting to rest a case that emerged during the bankruptcy of Mirant Corp., the energy company’s former parent Southern Co. has agreed to pay $202 million to settle allegations that it improperly saddled Mirant with debt related to power plant investments before spinning it off.

On Tuesday, Southern reached the deal with Mirant affiliate MC Asset Recovery LLC to settle the suit in the U.S. District Court for the Northern District of Georgia, according to a regulatory notice with the U.S. Securities and Exchange Commission....
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