La Paloma Generating Company, LLC and two of its affiliates have filed petitions for chapter 11 bankruptcy relief in the United States Bankruptcy Court for the District of Delaware (Case No. 16-12700). The Debtor is the owner and operator of a natural gas-fired power generation facility based in California. The petition lists between $100 million and $500 million in assets and between $500 million and $1 billion in liabilities. According to the First Day Declaration, a challenging regulatory environment, mounting compliance obligations and substantial debt service requirements led to the commencement of these cases. Epiq Bankruptcy Solutions, LLC is the proposed claims agent. The Debtors seek joint administration of these cases. The petition can be found here. The Honorable Christopher S. Sontchi has been assigned to the cases.
Contact Norman L. Pernick and Nicholas J. Brannick for more information.