PSEG Units Can't Appeal Dynegy Restructuring Ruling

Law360, New York (August 4, 2011, 4:49 PM EDT) -- A Delaware state judge on Thursday refused to allow two Public Service Enterprise Group Inc. subsidiaries to appeal his ruling allowing power generation company Dynegy Holdings Inc. to begin its $1.7 billion restructuring.

Vice Chancellor Donald F. Parsons Jr. said PSEG's Roseton OL LLC and Danskammer OL LLC, which lease two struggling power plants to DHI, are unlikely to succeed in their suit to stop the power company from moving its good assets into so-called bankruptcy remote companies. The PSEG companies have sought a temporary restraining...
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