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MACH Gen Gets Del. Court Nod For $10M DIP Draw

Law360 (June 12, 2018, 9:32 PM EDT) -- Bankrupt commercial power producer New MACH Gen LLC secured access to the first half of a proposed $20 million bankruptcy financing loan Tuesday, under a Delaware Chapter 11 reorganization plan that would take two of the company’s three current plants to a confirmation hearing on July 23.

Robert S. Brady of Young Conaway Stargatt & Taylor LLP, counsel to New MACH Gen, told Judge Mary F. Walrath during an initial court appearance that the Talen Energy affiliate’s Chapter 11 aims to trim $598 million in first...
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