Dynegy update

Dynegy, PSEG reached a settlement for $117.5 mm regarding the rejection of the Roseton-Danskammer leases. As per the terms of the settlement, Dynegy will provide an unsecured claim of $110 million and cash of $7.5 mm to a special entity designated by PSEG, Resources Capital Management Corporation, to satisfy certain tax liabilities. In return, PSEG has agreed to a number of stipulations, including support for the bankruptcy plan. Please see the link below for the actual court document. Please email me if you are interested in discussing how this settlement impacts recovery values.
DYN lease rejection bk court 227

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