Homer City Generation cash use approved; plan hearing set for Feb. 15

By Caroline Salls

Pittsburgh, Jan. 12 – Homer City Generation LP received court approval to use the cash collateral of its pre-bankruptcy secured creditors on an interim basis, according to an order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The final hearing is scheduled for Feb. 3.

The cash collateral use will fund the continuation of the company’s business and preserve its going-concern value.

In addition, the court scheduled a combined hearing on confirmation of Homer City Generation’s pre-packaged plan of reorganization and approval of the related disclosure statement for Feb. 15.

Indiana, Pa.-based Homer City operates three coal-fired electric generating units. The company filed bankruptcy on Jan. 11 under Chapter 11 case number 17-10086.

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