NRG Discloses Details On Sought Restructuring Of GenOn Via Voluntary Chapter 11 Proceedings
NRG Energy filed today an 8-K detailing a proposed restructuring of GenOn and GenOn Americas Generation (GAG) debt.
A proposed consensual restructuring and settlement would be implemented through voluntary cases filed by GenOn, GAG and certain of their respective subsidiaries under Chapter 11 of the United States Bankruptcy Code, and has been agreed upon in principle between GenOn, NRG, and an Ad Hoc Committee. The proposal remains subject to definitive documentation.
However, certain members of the Ad Hoc Committee and other noteholders oppose the proposal