Griddy Creditors Get More Time To Assess Ch. 11 Claims

Law360 (April 29, 2021, 5:26 PM EDT) -- A Texas bankruptcy judge said Thursday that Griddy Energy's Chapter 11 documents weren't ready for distribution and gave the official committee of unsecured creditors about three weeks to assess the value of any potential claims against the directors and officers of the bankrupt electricity provider and its nondebtor affiliates.

During a virtual hearing, U.S. Bankruptcy Judge Marvin Isgur said the plan disclosure statement proposed by Griddy doesn't contain sufficient information about the value of claims against the directors, officers and nondebtor affiliated companies of Griddy — which will be released under the proposed plan — and that he thinks the committee should...

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