Bankruptcy Judge "Expects" Confirmation Of FirstEnergy Solutions Reorganization Plan, But ...
August 23,2019
A federal judge adjourned a hearing concerning the bankruptcy exit plan of FirstEnergy solutions without confirming or denying the plan, as the judge directed FES address labor agreements with certain unions.
While the judge said that he "expects" that the plan will be confirmed, confirmation could not be granted until the labor contracts are resolved -- such contracts must either be assumed or rejected (subject to court approval) before a reorganization plan is confirmed.
All non-labor issues have been substantially resolved