Edison Mission Creditors Looking To Sue Parent Co.

Law360, New York (August 1, 2013, 2:13 PM EDT) -- Creditors of Edison Mission Energy on Wednesday asked an Illinois bankruptcy judge for permission to sue the company's nonbankrupt parent, Edison International, based on claims that it sucked all the value out of its subsidiary until it was no longer of use.

The official committee of unsecured creditors argued in a court filing that EME itself cannot bring suit against its parent because of a conflict of interest, and that it should be allowed to do so in the interest of maximizing value to the estate....
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