trending Market Intelligence /marketintelligence/en/news-insights/trending/sV4cF0XGqxhevk3xfYT5lw2 content esgSubNav
Log in to other products


Looking for more?

Contact Us
In This List

Dynegy's genco Chapter 11 plan confirmed by federal bankruptcy court

European Energy Insights February 2021


Global M&A Infographic Q1 2021


Q1 2021 Global Capital Markets Activity: SPAC IPOs, Issuance in Consumer Discretionary Sector Surge


COVID-19 Impact & Recovery: Private Equity

Dynegy's genco Chapter 11 plan confirmed by federal bankruptcy court

A federal bankruptcy judge approved Dynegy Inc. subsidiary Illinois Power Generating Co.'s Chapter 11 reorganization plan, clearing the way for a resolution in the coming weeks.

The reorganization plan for Illinois Power Generating, or Genco, was confirmed by Judge Marvin Isgur of the United States Bankruptcy Court for the Southern District of Texas Houston Division on Jan. 25, according to a statement by Dynegy.

"The plan confirmation clears the way for Genco to emerge from Chapter 11 and complete its financial restructuring, likely within the next few weeks," Dynegy said.

Counsel to Dynegy on Jan. 23 filed in support of confirmation for the prepackaged Chapter 11 reorganization plan.

Jeff Hunter, Illinois Power Generating chief restructuring officer, also filed in support on Jan. 23, saying that under terms of the reorganization plan, $825 million in debt would be eliminated at the Genco level in exchange for, "cash, new debt issued by Dynegy, and new warrants issued by Dynegy." (Case No. 16-36326)