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Article: Judge Grants Mirant Extension to File Reorganization Plan.
- Article from:
- Atlanta Journal-Constitution
- Article date:
- April 29, 2004
CopyrightCOPYRIGHT 2004 The Atlanta Journal-Constitution. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Margaret Newkirk
Apr. 29--FORT WORTH, Texas -- Bankrupt Atlanta-based energy company Mirant Corp. can have an additional eight months before filing its reorganization plan with the bankruptcy court, a judge here ruled Wednesday.
In the course of arguing over the extension, though, a Mirant consultant delivered some bad news for stockholders: There will be no money left for them unless something changes before the case is done.
When Mirant entered Chapter 11 last year, it looked as if there would be something left for shareholders once creditors got paid.
The blow to shareholders came during questioning by U.S. Bankruptcy Court ...