Entergy Seeks OK Of $12.9M In Contract Payments

Law360, New York (January 10, 2006, 12:00 AM EST) -- In an attempt to maintain access to electric generating capacity, the New Orleans branch power company Entergy Corp. has asked a bankruptcy court to retroactively approve $12.9 million in payments made towards power purchasing agreements with customers.

The company said, in a U.S. bankruptcy court filing, that the contracts were instrumental in allowing it to meet the needs of its customers while operating under Chapter 11 bankruptcy protection.

Entergy hopes to apply the $12.9 million to keep affiliates from canceling the contracts, which obligate the company...
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