Reliant Energy Wants Chapter 11 Trustee Appointed

Law360, New York (April 24, 2008, 12:00 AM EDT) -- Reliant Energy Channelview LP has asked the court overseeing its bankruptcy to appoint a Chapter 11 trustee to avoid the appearance of impropriety, warning of a possible divergence of interest between the debtors and their equity holders.

The debtors, which own and operate a power plant in Channelview, Texas, want to steer clear of “even the appearance of impropriety in these proceedings,” according to Reliant's motion, filed Wednesday in the U.S. Bankruptcy Court for the District of Delaware.

Reliant requested the appointment after a court ruling...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.