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US Energy Unit Gets Green Light For UK Deals

Law360 (May 6, 2009, 12:00 AM EDT) -- The bankruptcy judge overseeing U.S. Energy Systems Inc.'s Chapter 11 case has signed off on subsidiary GBGH LLC's plan to put into motion the U.K. portion of its restructuring transactions.

Judge Robert Drain of the U.S. Bankruptcy Court for the Southern District of New York signed off Tuesday on the motion, ruling that GBGH should be allowed to proceed after finding the transactions to be in the best interest of the estate, its creditors and other parties.

The judge did stipulate, however, that any use of...
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