US Energy Eyes End Of Bankruptcy

Law360, New York (July 6, 2010, 3:38 PM EDT) -- U.S. Energy Systems Inc. is nearing the end of its bankruptcy, filing an amended plan that calls for the completion of the liquidation of its assets and a full recovery for secured creditors.

Avon, Conn.-based U.S. Energy, which has already sold substantially all its assets, has asked the U.S. Bankruptcy Court for the Southern District of New York to hold a hearing on the plan Sept. 30. The plan should become effective and the claims allowance process should be completed by December, said Scott Bernstein, an...
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