$4B Debt May Drive Calif. Edison Unit Into Bankruptcy

Law360, New York (August 1, 2012, 6:35 PM EDT) -- California power company Edison International said Tuesday that one of its unregulated subsidiaries may be forced into bankruptcy if it can’t restructure $3.7 billion in debt, saying low power prices and federally mandated environmental upgrades were weighing heavily on the division’s liquidity.

In filings with the U.S. Securities and Exchange Commission, Edison said its subsidiary Edison Mission Energy International may file for Chapter 11 protection if it can’t meet its hundreds of millions of dollars in upcoming bond maturities, blaming recent losses on low energy prices...
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