Edison Mission To Pay $23M To Settle Retirees' Claims

Law360, New York (May 21, 2014, 7:18 PM EDT) -- Edison Mission Energy on Tuesday announced a settlement with its retirees that allows the company to pay off their claims for $22.9 million, less than a third of what the retirees have demanded, and unload obligations to pay their benefits.

The reorganization trust for EME, which recently sold its assets to NRG Energy Inc. after a stint in bankruptcy, will stop paying for non-unionized retirees’ benefits through the last day of the month following the month in which the deal is approved by a judge and...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.