Raser Cuts Deal With Creditor To Avoid Rival Ch. 11 Plan

Law360, Wilmington (July 26, 2011, 7:16 PM EDT) -- Raser Technologies Inc. reached an agreement Tuesday in Delaware with a disgruntled creditor to fend off a potential competing reorganization plan, clearing the way for the geothermal energy company to move forward swiftly on its own plan.

Evergreen-FE Lightning Dock LLC, the chief creditor to Raser’s stalled Lightning Dock geothermal project in New Mexico, moved Monday to terminate the debtor’s exclusivity and propose its own plan to pay back Lightning Dock’s creditors.

Under the existing plan, which does not consolidate its numerous debtor entities, Raser will...
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