Power Co. Bicent Looks To Refinance $500M Under Ch. 11

Law360, New York (April 23, 2012, 8:33 PM EDT) -- Colorado-based Bicent Holdings LLC sought bankruptcy protection in Delaware on Monday as the power generation company looked to refinance over $500 million in debt with a prearranged Chapter 11 for itself and a dozen subsidiaries.

Bicent Power LLC, the holding company's primary operating entity, claimed assets of less than $500,000 and liabilities of up to $1 billion in its individual filing, according to the Chapter 11 petition.

Bicent and its affiliates are entering Chapter 11 “to reorganize their financial affairs, as well as to restructure their...
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