This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Dynegy Holdings Settlement Agreement Approved

Dynegy Inc. (Dynegy) (NYSE: DYN) announced today that it has received approval from the U.S. Bankruptcy Court for its amended and restated settlement agreement that was executed on May 30, 2012 with all of its major creditor constituencies, including holders of a significant portion of DH’s senior notes, certain lease certificate holders and holders of a majority of its outstanding subordinated notes. Creditors who are parties to the settlement agreement hold over $2.7 billion of claims against Dynegy’s subsidiary, Dynegy Holdings, LLC (DH). The amended and restated settlement agreement resolves all disputes, claims and causes of action between and among DH, Dynegy and the settling parties, with respect to the matters therein. Dynegy expects to file an amended plan of reorganization and related disclosure statement for DH in the near future, which will be subject to a formal creditor vote and confirmation by the U.S. Bankruptcy Court.

“Today’s approval of the settlement agreement marks a significant move forward in DH’s Chapter 11 case and establishes the foundation for the remaining steps in the restructuring process. We are pleased that all major creditor groups are now a part of the settlement agreement and look forward to their continued support as we work together towards a fall 2012 Chapter 11 emergence date,” said Robert C. Flexon, President and Chief Executive Officer of both Dynegy and DH.

Court documents are available on the docket section of DH’s reorganization website, http://dm.epiq11.com/dynegyholdingsllc.

ABOUT DYNEGY

Dynegy's subsidiaries produce and sell electric energy, capacity and ancillary services in key U.S. markets. The Dynegy Power, LLC power generation portfolio consists of approximately 6,771 megawatts of primarily natural gas-fired intermediate and peaking power generation facilities. The Dynegy Midwest Generation, LLC portfolio consists of approximately 3,132 megawatts of primarily coal-fired baseload power plants. The DNE portfolio consists of approximately 1,693 megawatts from two power plants which are primarily natural gas-fired peaking and baseload coal generation facilities.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
SYM TRADE IT LAST %CHG

Markets

DOW 17,841.98 -86.22 -0.48%
S&P 500 2,080.15 -9.31 -0.45%
NASDAQ 4,919.6440 -19.6830 -0.40%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs