Entegra Power Group LLC, a pipeline and plant operator that owns two of the largest gas-fueled power plants in the U.S., completed its prepackaged Chapter 11 reorganization in less than seven weeks (In re Entegra Power Group LLC, Bankr. D. Del., 14-11859, plan confirmed 9/19/14).
The U.S. Bankruptcy Judge in Delaware signed a confirmation order on Sept. 19 approving the plan where second- and third-lien lenders and equity holders voted before the Chapter 11 filing on Aug. 4 26 BBLR 1082, 8/7/14.
The plan reduces debt from about $1.5 billion as of May 31 to approximately $788 million.
Third-lien ...
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