Creditors Give The Nod To Entergy’s Plan

Law360, New York (May 1, 2007, 12:00 AM EDT) -- A unit of Entergy Corp. inched closer to exiting Chapter 11 protection on Monday, with creditors of the bankrupt energy company giving the green light to its reorganization plan.

Creditors of Entergy New Orleans overwhelmingly voted in favor of the embattled utility’s Chapter 11 plan, according to court documents filed Monday.

The approved plan is Entergy’s fourth such proposal. A confirmation hearing on the plan has been set for Thursday.

The move comes just one week after the utility received $200 million in federal funding, marking...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.