Bankrupt Optim Energy Gets OK For $115M DIP Package

Law360, Wilmington (March 6, 2014, 5:31 PM EST) -- A Delaware bankruptcy judge indicated Thursday that he would give the final OK for power plant operator Optim Energy LLC to secure an up to $115 million debtor-in-possession financing package from its nondebtor parent, Bill Gates' Cascade Investment LLC, over the objections of two of its trade partners.

During a hearing in Wilmington, Del., U.S. Bankruptcy Judge Brendan L. Shannon said he was “not troubled” by language in the proposed DIP financing order related to Cascade being able to lodge a credit bid for Optim if...
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