Bankrupt AES Thames Settles $300M Utility Claims

Law360, Wilmington (September 22, 2011, 4:13 PM EDT) -- A Delaware bankruptcy judge on Thursday cleared a settlement resolving $300 million in contract claims that a utility lodged against AES Thames LLC, removing the last major hurdle to the power plant operator's bid to sell its assets under court protection.

The company — a unit of AES Corp. that runs a coal-fired power plant in Connecticut — negotiated a settlement in mediation resolving Connecticut Light and Power Co.’s claims that AES Thames wrongfully terminated an electricity purchase agreement with the utility.

U.S. Bankruptcy Judge Kevin...
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