UnThreaded | Threaded | Whole Thread (21) | Ignore Thread Prev | Next
Author: howardgt One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 35357  
Subject: Re: Any updates on Edison Mission Energy bonds? Date: 12/7/2013 5:41 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
From WSJ Dec. 6, 2013

Edison Mission Bondholders Turn to Wilder for Bankruptcy Help


Edison Mission Energy's bondholders are hiring a team led by TXU Corp.'s former chief executive to help them navigate a coming legal battle in Edison Mission's bankruptcy.

Judge Jacqueline Cox, of the U.S. Bankruptcy Court in Chicago, on Thursday authorized Edison Mission to pay the bills of Bluescape Advisors LLC as Bluescape advises the bondholder group in connection with possible litigation against Edison Mission's parent, Edison International.

....

Edison Mission and its unsecured creditors, which include the bondholders, have been preparing to sue Edison International over allegations that it siphoned hundreds of millions of dollars from Edison Mission before the Chapter 11 filing. Edison International has vowed to fight the allegations, which it says lack merit.

It is a dispute in which the bondholders—and other unsecured creditors—have a lot at stake, as any money that is recovered from a potential lawsuit or settlement will be added to the cash and stock they are already set to recover from Edison Mission's restructuring.

....

Depending on such variables as an Edison International lawsuit or settlement, unsecured creditors will recover 57.3% to 100% of what they are owed under the restructuring plan.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (21) | Ignore Thread Prev | Next

Announcements

Post of the Day:
Berkshire Hathaway

Starting a Small Business
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement