Dynegy Implements Merger and Reorganization Plan

Power producer Dynegy Holdings LLC said it was implementing the bankruptcy reorganization plan yesterday that the U.S. Bankruptcy Court in Poughkeepsie, New York approved with a Sept. 10 confirmation order.

Dynegy Holdings filed under Chapter 11 in November. The direction of the bankruptcy changed in March when examiner Susheel Kirpalani issued a report saying that an outof- court restructuring last year included fraudulent transfers with actual intent to hinder and delay creditors of subsidiaries of parent Dynegy Inc. Changing role to that of mediator, Kirpalani persuaded the contending factions to settle.

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