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.

  • Most Popular
  • Most Shared

Pending Reform

REUTERS SHOWCASE

Power Theft

Power Theft

India to invest $4 billion to tackle power theft  Full Article 

Debt Funds

Debt Funds

India monitors foreign flows into debt funds, may tighten rules  Full Article 

Bulgari Back in India

Bulgari Back in India

CEO: we shouldn’t have left India so we’re back  Full Article 

 Hindu "Modi-fication"

Hindu "Modi-fication"

Fears grow about Hindu "Modi-fication" of education  Full Article 

Weak Credit

Weak Credit

Hard to hit tax revenue target, credit weak - Jaitley  Full Article 

China Rate Cut

China Rate Cut

China surprises with interest rate cut to spur growth  Full Article 

Gold Imports

Gold Imports

RBI cautious on response to gold import surge  Full Article 

Economic Corridor

Economic Corridor

China commits $45.6 billion for economic corridor with Pakistan  Full Article 

Overseas Funds

Overseas Funds

RBI says overseas borrowed funds can be parked with banks in India  Full Article 

Reuters India Mobile

Reuters India Mobile

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