Entergy New Orleans Files Reorganization Plan

Law360, New York (October 24, 2006, 12:00 AM EDT) -- After months of wrangling, bankrupt utility Entergy New Orleans Inc. has submitted a plan of reorganization that pledges to fully compensate its creditors while continuing to restore the beleaguered city’s electric systems.

On Tuesday, Entergy New Orleans revealed that it had filed a proposed plan of reorganization with the U.S. Bankruptcy Court for the Eastern District of Louisiana, after receiving several extensions from the court.

"This plan represents a major milestone in our path out of bankruptcy. If the plan is approved, Entergy New Orleans could...
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