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|Subject: Edison Mission Energy Bankruptcy...||Date: 8/1/2013 2:53 PM|
|Author: joelcorley||Number: 35046 of 35226|
I don't know if any of you are still following Edison Mission. But I received an interesting Google alert about an article of interest and thought I would share. Excerpted from the article,
The official committee representing unsecured creditors in Edison Mission's Chapter 11 bankruptcy case on Wednesday filed papers asking the bankruptcy court to grant it the right to bring the lawsuit.
While heavily redacted, the committee's motion says their ongoing investigation has discovered numerous potential claims against Edison International, various subsidiaries and certain current and former directors of Edison Mission. Those potential claims include fraud, negligent misrepresentation, breach of fiduciary duty, aiding and abetting breach of fiduciary duty and unjust enrichment.
Read more: http://www.nasdaq.com/article/edison-mission-creditors-seek-...
I imagine the parent company will offer some kind of settlement to make this go away. Sounds like if you're still holding any of these bonds it might be worth hanging on to see where it goes.
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