Edison Energy Wants JP Morgan To Explore Ch. 11 Sale

By Drew Singer (June 27, 2013, 6:56 PM EDT) -- A bankrupt unit of Edison International has asked an Illinois federal judge to let it hire JP Morgan Securities LLC to evaluate whether selling its assets would be more profitable than a restructuring, according to a Wednesday court filing.

Edison Mission Energy, which declared bankruptcy and was deconsolidated from utility holding company Edison International in December 2012, is set to transfer ownership of its division to creditors upon the approval of U.S. Bankruptcy Judge Jacqueline Cox, according to its restructuring plan.

Although the energy company intends to move forward with that plan, it said in a court filing on Wednesday that...

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