Ahead of a March 16 confirmation hearing on the second amended reorganization plan of Longview Power LLC, the bankruptcy court on March 10 issued a notice about dozens of contracts and leases that the reorganized companies plan to keep.
Unless otherwise ordered by the court, any objection by a counterparty to assumption of a contract or lease must be filed with the court and served so as to be actually be received by the debtors on April 10, which is 30 days from the date of service of this notice.
Included in the contracts to be assumed are contracts where Longview’s 700-MW (net) power plant in northern West Virginia is supplied by coal from a bankrupt affiliate, Mepco LLC, which is also due to emerge from bankruptcy alongside Longview Power.
The list of contracts and leases to be assumed by Longview includes a number of service deals with companies like Black & Veatch, BP Energy and Navigant Consulting. Mepco LLC and affiliated mining companies will assume contracts with companies like Alliance Consulting and Alpha Engineering Services.
Also released by the court on March 10 was a much shorter list of contracts/leases to be rejected by these companies under the reorganization plan. On that list are Mepco deals with Coalfield Services and Evergreen Development, and Longview deals with Atlas Resources and Dunkard Coal.
The Federal Energy Regulatory Commission on March 9 approved an application by Longview Power for ownership changes related to a debt-for-equity swap that will get this coal-fired power producer out of federal bankruptcy protection at the U.S. Bankruptcy Court for the District of Delaware.