Shareholders, creditors approve utility reorganization plan

Journal Article · Thu Apr 12 04:00:00 EDT 1990 · Public Utilities Fortnightly; (United States)

OSTI ID:5245407

Shareholders and all classes of secured creditors of Public Service Company of New Hampshire voted overwhelmingly last month to approve Northeast Utilities' Chapter 11 reorganization plan for PSNH, the utility announced. PSNH filed for bankruptcy protection in January 1988. Under the reorganization plan, Connecticut-based NU would acquire the utility for $2.3 billion. While PSNH's preferred and common stockholders voted to accept the proposal, holders of warrants to purchase PSNH common stock rejected the plan. Except for the votes of a group of independent power producers, PSNH's unsecured creditors also voted to accept the plan.

• OSTI ID: 5245407
• Journal Information: Public Utilities Fortnightly; (United States), Journal Name: Public Utilities Fortnightly; (United States) Vol. 125:8; ISSN 0033-3808; ISSN PUFNA
• Country of Publication: United States
• Language: English

Related Subjects

20 FOSSIL-FUELED POWER PLANTS
200600* -- Fossil-Fueled Power Plants-- Economic
Industrial
& Business Aspects-- (1990-)
29 ENERGY PLANNING, POLICY, AND ECONOMY
296000 -- Energy Planning & Policy-- Electric Power
DEBT COLLECTION
DEVELOPED COUNTRIES
ELECTRIC UTILITIES
FEDERAL REGION I
FINANCING
NEW HAMPSHIRE
NORTH AMERICA
PLANNING
PROFITS
PUBLIC UTILITIES
USA