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
planis approved,” U.S. Bankruptcy Judge Alan Koschiksaid 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 ...