Bankrupt Longview's Deal To Fix $2B Plant Gets Judge's Nod

Law360, Wilmington (March 4, 2014, 10:17 PM EST) -- Bankrupt Longview Power LLC won court approval Tuesday for a settlement with contractor Foster Wheeler North America Corp. that provides the debtor with free repairs to its troubled $2 billion coal plant and resolves knotty litigation between the parties.

U.S. Bankruptcy Judge Brendan L. Shannon agreed to bless the deal over the opposition of contractors Siemens Energy Inc. and Kvaerner North American Construction Inc., finding that the evidence before the court demonstrated its benefits.

“This is a good and favorable settlement for the estate,” Judge Shannon...
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