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Optim Energy, LLC

  1. August 05, 2014

    Optim Taps Blackstone Unit As $126M Buyer For Coal Plant

    Bankrupt power plant operator Optim Energy LLC on Tuesday announced a $126 million deal to sell its coal-fired generation plant to a unit of Blackstone Group LP, which prevailed at an auction that added more than $40 million to the sticker price.

  2. July 03, 2014

    Optim Judge OKs PE Group As $82M Coal Plant Stalking Horse

    A Delaware bankruptcy judge on Thursday blessed bidding procedures for Optim Energy LLC's coal-fired generation plant, establishing a group that includes private equity firm Arclight Capital Partners LLC as a $82 million stalking horse bidder ahead of a planned auction next month.

  3. July 02, 2014

    Optim Taps PE Group As $75M Coal Plant Stalking Horse

    Power plant operator Optim Energy LLC named a new $75 million stalking horse bidder for its coal-fired plant Wednesday, tapping a group that includes private equity firm Arclight Capital Partners LLC for the role after receiving eleventh-hour offers at a hearing in Delaware bankruptcy court.

  4. June 27, 2014

    Optim Coal Supplier Balks At 'Gag Order' In $60M Sale Plan

    A coal supplier for bankrupt Optim Energy LLC, owned by Bill Gates' Cascade Investment LLC, balked Friday at a provision in the power plant operator's sale plan for one of its facilities that disqualifies any suitor who had recent discussions with the creditor from making an offer.

  5. May 20, 2014

    Optim Energy Seeks Extension to Ch. 11 Exclusivity Period

    Power plant operator Optim Energy LLC, owned by Bill Gates' Cascade Investment LLC, asked a Delaware bankruptcy judge Tuesday to extend its exclusivity period by four months, saying it needs to be able to develop a Chapter 11 plan without outside distractions.

  6. May 13, 2014

    Optim Energy Creditor Can't Challenge $700M Cascade Claim

    A Delaware bankruptcy judge ruled Tuesday that power plant operator Optim Energy LLC's creditor and coal supplier Walnut Creek Mining Co. did not have standing to challenge the characterization of a roughly $700 million secured claim by the company's nondebtor parent, Bill Gates' Cascade Investment LLC.

  7. March 06, 2014

    Bankrupt Optim Energy Gets OK For $115M DIP Package

    A Delaware bankruptcy judge indicated Thursday that he would give the final OK for power plant operator Optim Energy LLC to secure an up to $115 million debtor-in-possession financing package from its nondebtor parent, Bill Gates' Cascade Investment LLC, over the objections of two of its trade partners.

  8. March 03, 2014

    Bankrupt Optim Energy Seeks Approval Of $115M DIP Loan

    Bankrupt power plant operator Optim Energy LLC, owned by Bill Gates' Cascade Investment LLC, urged a Delaware judge Monday to approve its debtor-in-possession package despite a pair of objections, saying the $115 million loan benefits all parties in the Chapter 11 case.

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