Crucial Funds Within Reach For Entergy New Orleans

Law360, New York (February 20, 2007, 12:00 AM EST) -- The federal government has approved a $200 million grant for Entergy New Orleans, moving the beleaguered utility one step closer to emerging from bankruptcy.

The U.S. Department of Housing and Urban Development, which administers the block grant program, informed Gov. Kathleen Blanco of its approval on Feb. 9, according to a HUD spokesman.

"We are one step closer; we are not there yet," said Tracie Boutte, the vice president of regulatory affairs for Entergy New Orleans, in an interview with the Times-Picayune.

Though there are still...
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