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GenOn Energy Additional Plan Modification Sought

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GenOn Energy filed with the U.S. Bankruptcy Court an emergency motion to further modify its Third Amended Joint Chapter 11 Plan of Reorganization.

The Debtors explain, “The Debtors seek to modify the Third Amended Joint Plan of Reorganization of Genon Energy, Inc. and its Debtor Affiliates [Docket No. 1250] (as may be amended, supplemented, or otherwise modified from time to time, the ‘Plan’) to incorporate and approve that certain Mediated Settlement Agreement by and among GenOn Mid-Atlantic, LLC (‘GenMA’), GenOn Energy, Inc. (‘GenOn’), on behalf of the Debtors, NRG Energy, Inc. (‘NRG’), and the GenMA Owner Lessors (collectively, the ‘Parties’)….Since Confirmation, the Parties have worked to implement the GenMA Settlement. Despite all efforts, the Parties were unable to resolve several key issues in connection with definitive documentation.”

In addition, “The Debtors believe the terms of the Mediated Settlement Agreement require it to be incorporated in the Plan. The Company also seeks Court approval to seal certain related material. The seal motion explains, “The exhibits and schedules to the Mediated Settlement Agreement contain commercially sensitive data related to the company and the settlement transactions contemplated thereby. To be clear, the Debtors filed the Mediated Settlement Agreement with the 1127 Motion but have excluded the corresponding schedules and exhibits due to confidentiality concerns.”

As previously reported, the Court confirmed the Plan on December 12, 2017; however, the Plan is not yet effective. The Court issued a separate order approving previous Plan modifications on April 2, 2018.

Read more GenOn Energy bankruptcy news.

The post GenOn Energy Additional Plan Modification Sought appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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