AES Thames To Liquidate After Asset Sale Collapses

Law360, New York (January 24, 2012, 1:30 PM EST) -- A bankruptcy judge on Monday approved the liquidation of AES Thames LLC after a proposed buyer of the Connecticut power plant operator's assets could not reach a lease extension or modification on the property and missed a deadline for closing the sale.

Judge Kevin J. Carey of the Delaware bankruptcy court signed an order converting AES Thames's Chapter 11 bankruptcy proceedings to a Chapter 7 liquidation after S&S Deconstruction LLC was unable to negotiate a lease extension or modification with Smurfit-Stone Container Corp., a persistent legal...
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