New Orleans Mulls Takeover Of Entergy Branch

Law360, New York (June 14, 2006, 12:00 AM EDT) -- As Entergy New Orleans Inc. continues to struggle to regain its footing after Hurricane Katrina, the Louisiana state senate has approved legislation that would enable the beleaguered power company to seek a city takeover if a federal bailout does not succeed.

On Tuesday, House Bill 1389 sailed through the legislative body, with few lawmakers opposing the proposition that would enable Orleans Parish to gain municipal ownership of the company.

The New Orleans branch of Entergy has been engulfed in financial problems since Hurricane Katrina ravaged the...
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