Carlyle Subsidiary Blasts Dynegy Plan's 'Circular Logic'

Law360, New York (March 9, 2012, 7:17 PM EST) -- Dynegy Holdings LLC has caught flak over its Chapter 11 plan, with a subsidiary of asset manager The Carlyle Group contending on Friday that the troubled power company is using “bizarre circular logic" to preclude certain claims holders from recovery.

Claren Road Asset Management LLC filed the objection in New York bankruptcy court, saying Dynegy's latest amended plan to take away voting rights on the restructuring from subordinated notes claims holders will leave them with little to grab, and will most likely reroute any distributions to...
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