Griddy's Ch. 11 Customer Release Plan Approved In Texas

By Vince Sullivan (July 7, 2021, 8:38 PM EDT) -- The Chapter 11 plan of electricity provider Griddy Energy LLC received bankruptcy court approval in Texas on Wednesday, allowing the company to release its customers from having to pay exorbitant power bills incurred during the February winter storm that wreaked havoc across the state.

During a virtual hearing, U.S. Bankruptcy Judge Marvin Isgur approved the plan, saying it was it an "ideal outcome in a difficult world" and lauding the debtor and other participants in the case for their hard work in resolving a situation that impacted millions in Texas.

"This is a very unique plan because a lot of the...

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