Dynegy bankruptcy examiner faults company dealings

March 9 Fri Mar 9, 2012 10:53pm IST

Stocks

   

March 9 (Reuters) - A court-appointed examiner investigating the bankruptcy of Dynegy Holdings LLC said on Friday that the company had improperly moved assets related to coal-powered plants to its nonbankrupt parent, Dynegy Inc , hurting creditors.

The examiner, Susheel Kirpalani, nonetheless said a bankruptcy judge could confirm a Chapter 11 plan for Dynegy Holdings, but that the coal assets should be deemed the property of that holding company's bankruptcy estate rather than power producer Dynegy Inc.

Dynegy Holdings filed for Chapter 11 protection on Nov. 7, hoping to restructure more than $4 billion of debt. Bondholders objected to the restructuring, saying they would suffer losses while shareholders including billionaire financier Carl Icahn and the Seneca Capital hedge fund would be protected.

REUTERS EXCLUSIVE

Reuters Showcase

Documents' Leak

Documents' Leak

India widens oil leaks probe to defence ministry  Full Article 

Bharti-China Mobile

Bharti-China Mobile

Bharti Airtel, China Mobile to collaborate on 4G  Full Article 

Food Security

Food Security

India will not cut multi-billion dollar food handout programme - PM  Full Article 

Rich List

Rich List

Bill Gates tops Forbes rich list, Michael Jordan joins.  Full Article 

Tough Task

Tough Task

India needs sustained GDP growth of 9-10 percent - Jaitley.  Full Article 

Budget 2015

Budget 2015

Budget announcements and reactions from the industry  Full Coverage 

New Credit Cards

New Credit Cards

Insight: Costly shift to new credit cards won't fix security issues   Full Article 

Environment Watch

Environment Watch

Deforestation could shift monsoons, leaving India high and dry.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage