Brilliant Energy Will Keep Operating While Trustee Seeks Sale

Power retailer Brilliant Energy LLC will continue operating -- despite its Chapter 7 bankruptcy filing -- while exploring a sale of its customer contracts.

• U.S. Bankruptcy Judge David Jones in a Wednesday hearing said he’d give Brilliant’s Chapter 7 trustee authority to run the business on an interim basis
• Firm’s biggest creditor, DTE Energy Trading, warned the court that a standard Chapter 7 liquidation could lead to the transfer of Brilliant’s customer contracts, destroying the remaining value of the business
  • Brilliant owes DTE $60M under certain power-related contracts
• DTE claims Brilliant’s contracts may be worth as much as $12M ...