- Aug 9, 2019 4:23 am GMT
- 184 views
"The Justice Department and its federal bankruptcy court division, the U.S. Trustee, objected to FirstEnergy Solutions' (FES) latest (sixth) reorganization plan in a filing on Friday, based on the protection that the plan would give to parent energy First Energy and other affiliates. FES is facing a phalanx of opponents, including several federal agencies, for its plan to emerge from federal bankruptcy protection free of past obligations. The bankruptcy court refused to approve an earlier FES plan that would similarly protect FirstEnergy affiliated from creditors or the government if future environmental issues become evident at former power plant sites. The Midwest-based Environmental Law and Policy Center (ELPC) led a coalition of environmental groups to urge the court to throw out the Restructuring plan because it fails to show how the reorganized FES — without backup from its parent FirstEnergy Corp. — will ever have enough money in its nuclear decommissioning funds to clean up the power plants sites when the plants are eventually closed."