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NRA Reaches Deal To Pay Creditors Ch. 11 Fees
Law360 (May 14, 2021, 5:05 PM EDT) Days after the National Rifle Association s Chapter 11 case was dismissed, the organization told a Texas bankruptcy judge Friday that it had reached an agreement with the official committee of unsecured creditors to handle payments of professional fees.
During a status conference requested by the committee, its attorney Louis Strubeck Jr. of Norton Rose Fulbright said the committee had pending fee applications in the case and would likely have at least a further request for payment of professional fees, which are typically paid for by the debtor in a Chapter 11 case.
The financial damage from the deadly Texas blackouts is quickly spreading
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Brazos Electric Power Cooperative, the largest generation and transmission cooperative in Texas, filed for Chapter 11 bankruptcy protection early MondayYi-Chin Lee, Houston Chronicle / Staff photographer
The financial damage of the recent power crisis is quickly spreading, rolling across retail power companies, electric cooperatives and the state’s grid manager itself.
The Electric Reliability Council of Texas, or ERCOT, which runs the state’s wholesale power markets, acknowledged Monday that it is short some $1.6 billion needed to pay generators as electricity buyers default after brutal winter weather sent prices skyrocketing.