Entergy's Unsecured Creditors Take Bold Step

Law360, New York (February 8, 2007, 12:00 AM EST) -- After presenting the bankruptcy court with a rival reorganization plan, the unsecured creditors committee of Entergy New Orleans has decided not to send its proposal out to creditors for a vote.

Earlier this week, the committee said that it had no intention to solicit votes for the plan from creditors, maintaining that the proposal does not impair any creditor classes.

U.S. Bankruptcy Judge Jerry Brown signed off on Entergy’s disclosure statement on Monday, but decided that it would be moot to approve the committee’s plan in...
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