Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for Boston Generating LLC > News item |
Boston Generating asset sale order appealed by Credit Suisse AG
By Lisa Kerner
Charlotte, N.C., Dec. 7 - Boston Generating, LLC's asset sale approval has been appealed by first-lien collateral agent Credit Suisse AG, Cayman Islands Branch, according to a Tuesday filing with the U.S. Bankruptcy Court for the Southern District of New York.
The $1.1 billion sale to stalking horse bidder and successful bidder Constellation Energy was approved on Nov. 24.
As previously reported, MatlinPatterson Global Advisers LLC and Wilmington Trust FSB also appealed the asset sale.
Boston Generating announced a settlement agreement with Algonquin Gas Transmission, LLC under which Algonquin agreed to withdraw its objection to Boston Generating's sale to Constellation Energy in exchange for $10 million on the Jan. 3 closing date and a $10 million general unsecured claim against the debtors' estates.
Boston Generating, a Charlestown, Mass., power company, filed for bankruptcy on Aug. 18. The Chapter 11 case number is 10-14417.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.