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Texas Power Plant Gets Lender Cash Use Approved In Ch. 11

The owner of a Texas power generating plant received approval to access the cash of its secured lenders Thursday when a Delaware judge said the money is needed to keep operations going and preserve the value of its assets ahead of a Chapter 11 sale. ....

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Texas Plant's Ch. 11 Has No Obvious Purpose, Del. Judge Told

The largest unsecured creditor of West Texas power producer Ector County Energy Center LLC kicked off the power plant's Chapter 11 case Wednesday by telling a Delaware bankruptcy judge that the debtor had "no obvious reorganization purpose" in filing for bankruptcy. ....

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