Bankruptcy Judge Sides With Edison Mission in Chevron Row

Law360, Los Angeles (September 17, 2013, 6:42 PM EDT) -- Bankrupt Edison Mission Energy can keep its shares of a pair of energy joint ventures with affiliates of Chevron Corp., as an Illinois bankruptcy judge found Monday that EME's Chapter 11 filing doesn't constitute an act of default under the partnership agreements.

Judge Jacqueline P. Cox granted a motion by EME's debtor affiliates Western Sierra Energy Co. and Southern Sierra Energy Co. to maintain partnership agreements with the Chevron affiliates for steam/electricity cogeneration projects in Bakersfield, Calif. Chevron had objected to EME's subsidiaries assuming the agreements, arguing EME's bankruptcy filing...
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