Refinancing Approved For Energy Wholesaler
Judge Mary F. Walrath signed an order Monday authorizing the electric power wholesaler to refinance its $427 million debt.
"Continued restructuring in Chapter 11 would lead to additional expense and delay and the outcome of such a process is uncertain," Magnolia said. “In contrast, entering into the refinance transaction will provide the debtors with funds to satisfy all valid prepetition claims (excluding intercompany loans) and expenses of...
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