Entergy Loses Exclusive Right To File Ch. 11 Plan

Law360, New York (December 11, 2006, 12:00 AM EST) -- In a blow to Entergy New Orleans, a federal bankruptcy judge has ended the energy provider’s exclusive right to file a reorganization plan, paving the way for rival Chapter 11 proposals to emerge.

U.S. Bankruptcy Judge Jerry Brown issued the edict on Friday, hoping to speed up the restructuring negotiations that have already dragged on for months.

Under bankruptcy law, companies must turn in a Chapter 11 plan mapping out how creditors will be paid. Exclusive periods bar other parties from filing alternative plans and give...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.