IRS Asks Court To Reject Edison Mission's Ch. 11 Plan

By Jamie Santo (January 30, 2014, 8:56 PM EST) -- The Internal Revenue Service urged an Illinois bankruptcy judge Wednesday to deny Edison Mission Energy's Chapter 11 plan, saying it contained numerous provisions that infringed on the agency's $1.3 billion tax claim against the estate.

Edison Mission's plan, which covers EME and approximately 20 related entities, is defective and cannot be confirmed because it violates the U.S. Bankruptcy Code and other statutes, the IRS said in an objection filed on its behalf by the U.S. Department of Justice.

The plan's alleged defects include its improper grant of releases to one or more debtors, its failure to obligate debtors to pay interest...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!