Ector County Energy Center LLC, a bankrupt electricity producer, plans to sell nearly all assets to Rockland Capital for about $144.8 million.
Rockland’s winning bankruptcy auction bid, announced in a filing Thursday in the US Bankruptcy Court for the District of Delaware, will need court approval, likely to be issued at a hearing scheduled for June 27.
The price could increase by up to $2.7 million depending on certain incentives, Ector said.
Based in Texas’ Permian Basin, Ector filed Chapter 11 in April, blaming a large number of lawsuits following the 2021 winter storm that halted many Texas power ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.