Bankrupt Optim Energy Seeks Approval Of $115M DIP Loan

Law360, Wilmington (March 3, 2014, 8:42 PM EST) -- Bankrupt power plant operator Optim Energy LLC, owned by Bill Gates' Cascade Investment LLC, urged a Delaware judge Monday to approve its debtor-in-possession package despite a pair of objections, saying the $115 million loan benefits all parties in the Chapter 11 case.

Walnut Creek Mining Co. and Lyondell Chemical Co. lodged separate limited objections last week taking issue with terms of the proposed DIP facility being furnished by Cascade, Optim's non-debtor parent.

Texas-based Optim, which buys coal from Walnut Creek and supplies steam and electricity to...
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