Distrigas Scores $51M From Bankrupt Power Co. EBG

Law360, New York (August 20, 2010, 3:47 PM EDT) -- Warned that acting otherwise could lead to blackouts in Boston, a judge has allowed bankrupt power company EBG Holdings LLC to pay nearly $51 million to natural gas supplier Distrigas of Massachusetts LLC and granted the vendor special creditor protections.

Judge Shelley C. Chapman told lawyers at a hearing Friday in the U.S. Bankruptcy Court for the Southern District of New York that she would permit the debtor to make the substantial payment but warned that other suppliers might “put their hand out.”

She further granted...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.