Bankruptcy News

We've summarized the latest docket activity and news for publicly traded companies currently operating under U.S. Bankruptcy Court protection.

Bankruptcy/Chapter 11 / Energy

Optim Energy Chapter 11 Petition Filed

Privately-held Optim Energy and seven affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 14-10262. The Company, which owns power plants principally engaged in the production of energy, is represented by Robert J. Dehney of Morris, Nichols, Arsht & Tunnell. The Debtors are wholly-owned-subsidiaries of Cascade Investment. Cascade Investment and ECJV Holdings are the ultimate parent companies of the Debtors, and neither Cascade Investment nor ECJV Holdings are debtors in the Chapter 11 cases. According to documents filed with the Court, “A changing marketplace and challenging circumstances have severely constrained the Debtors’ liquidity and made it impossible for the Debtors to fund continuing business losses, refinance their debt, or access additional borrowed money, ultimately compelling the need to file these chapter 11 cases.” Optim Energy’s Chapter 11 petition indicates total pre-petition assets greater than $100 million.

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