Texas Freeze Makes Frontera Ch. 11 Loan More Critical

Law360 (February 23, 2021, 8:46 PM EST) -- Attorneys for Texas power generating station owner Frontera Holdings LLC said last week's crippling winter weather forced it to shut down its plants for nine days and the ensuing loss of revenue increased the need for another $40 million in Chapter 11 financing.

During a virtual hearing Tuesday, debtor attorney Matthew C. Fagen said the power station is fueled by natural gas and that its gas supply was cut off due to the storm, leading to potential breaches of minimum capacity contracts with the regulators of the power grid in Mexico, where all of Frontera's output is sold.

"We are in...

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