Edison International Unit Declares Bankruptcy

Before you go, we thought you'd like these...
Before you go close icon

Edison International unit Edison Mission Energy has filed for Chapter 11 bankruptcy protection, the parent company said in a statement. Edison International said it will subsequently deconsolidate its California-based subsidiary. EME's ownership is to be transferred to its creditors, a move that requires approval by the bankruptcy court.

A website dedicated to the EME restructuring said the reorganization plan will also seek to "retire existing public debt and enhance [EME's] access to liquidity." The goal is for the subsidy to emerge as a recapitalized company independent of Edison International.

The website also characterized EME's operations as "healthy" and said they would continue uninterrupted.

The article Edison International Unit Declares Bankruptcy originally appeared on Fool.com.

Eric Volkman and The Motley Fool have no positions in the companies mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners