MidwestGen Parent May File for Bankruptcy
The company owns four coal-powered energy plants, two of which are located in Joliet and Romeoville.
The parent company of Midwest Generation, owner of coal-powered energy plants in Joliet, Romeoville and two other Illinois towns, may be headed to bankruptcy court, according to a published report. Edison Mission Energy, which is part of Edison International, owes $97 million in interest on bonds, and there is "no assurance" they money will be repaid on its Nov. 15 due date or within the 30-day grace period following that date, a story in Crain's Chicago Business. The announcement was part of Edison International's third-quarter earnings report, the story said. “Failure to pay interest on the bonds will likely result in EME filing for bankruptcy protection under Chapter 11 of the Bankruptcy Code,” Edison International CEO Ted Craver said …
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8:04 pm on Sunday, May 12, 2013
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