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Illinois Power Generating Pre-Packaged Bankruptcy

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Illinois Power Generating (p/k/a Ameren Energy Generating) (Genco) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, case number 16-36326. The Company, which operates a power generation facility, is represented by Timothy A. Davidson II of Andrews Kurth Kenyon. Concurrent with the petition, the Company also filed a Chapter 11 Plan of Reorganization and a related Disclosure Statement.

According to the Disclosure Statement, “Dynegy will serve as co-sponsor and co-proponent of the Plan and is participating in the Plan with Genco, but, for the avoidance of any doubt, only Genco intends to commence the Chapter 11 Case (subject to the terms and conditions of the Support Agreement and approval by Genco’s board of directors) and Dynegy is not commencing a case under Chapter 11 or otherwise. Dynegy will issue the Dynegy Notes and the Dynegy Warrants, and Genco will provide the cash portion of the Eligible Holder Distribution, the Non-Eligible Holder Distribution and the Support Agreement Fee; provided, that if the cash available at Genco on the Plan Effective Date is insufficient to pay such amounts and other amounts then payable by Genco, Dynegy will provide Genco with the funds necessary to pay the difference through the Genco Working Capital Facility.”

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