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FirstEnergy Resolves Union Fight That Slowed Bankruptcy Exit (1)

Oct. 15, 2019, 4:00 PM

Deal with Utility Workers Union of America clears the way for FirstEnergy Solutions Corp. to try to exit bankruptcy by Jan. 1, company says in court.

  • “Congratulations, your plan is approved,” U.S. Bankruptcy Judge Alan Koschik said on Tuesday in federal court in Akron, Ohio referring to FirstEnergy’s reorganization proposal
  • Under the union compromise, workers will receive the same retirement benefits under a new plan that they would have gotten if the company had never sought court protection, union lawyer Joyce Goldstein said in court
  • Before the power-generating company can exit bankruptcy, it must win approval of the reorganization from ...