Risk.net

Bankrupt Mirant seeks more time to file restructuring plan

The current period of ‘exclusivity’ with regard to proposing a plan expires on December 31, after which time creditors and other interested parties can put forward their own proposals. A reorganisation plan sets out how the company will settle the claims of creditors and other interested parties, including shareholders.

The company has made substantial progress and still plans to file a plan by December 31, said Mirant chief financial officer Michele Burns. But a delay could occur to push it

To continue reading...