Bankrupt Liberty Power Hires Employees Fired by Parent Company

Liberty Power Holdings, an electricity retailer burned by the Texas freeze, has hired 71 of the 95 employees its parent company fired before the subsidiary’s bankruptcy filing last week. The maneuver ensures the employees can get paid and are able to continue working for Liberty, whose finances are protected from creditors by the Chapter 11 filing.

• Those employees now have access to the parent company’s computer systems under a court order, a lawyer for Liberty said in a Tuesday bankruptcy hearing
• The parent company fired its staff last week because Boston Energy Trading and Marketing LLC, the subsidiary’s ...