Bicent Power Files Ch. 11 Plan To Address $500M Of Debt

Law360, New York (May 1, 2012, 5:18 PM EDT) -- Grappling with over $500 million of debt, power generation company Bicent Holdings LLC filed a Chapter 11 plan in Delaware bankruptcy court on Monday that would give nearly all of the equity in the reorganized company and a dozen subsidiaries to first-lien lenders.

Colorado-based Bicent said it had negotiated the terms of the plan with first- and second-lien lenders before entering bankruptcy and expected implementation of the plan to be a smooth process.

“Given the prenegotiated nature of the plan and the support it enjoys, the...
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