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...
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