Miss. County Says $286M LSP Sale Will Lead To Tax Losses

Law360, Wilmington (September 11, 2012, 6:17 PM EDT) -- Panola County, Miss., on Monday objected to the planned $286 million sale of bankrupt power plant operator LSP Energy LP to a local utility, saying the deal could starve the impoverished county of crucial tax revenue.

The buyer, South Mississippi Electric Power Association, is exempt from certain taxes under state law and the rural county — joined by the city of Batesville — wants added protections in the deal to cushion the loss of one of its most significant taxpayers, according to an objection filed in...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

LSP Energy Limited Partnership


Case Number

1:12-bk-10460

Court

Delaware

Nature of Suit

Date Filed

February 10, 2012

Law Firms

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.