New Delaware Chapter 11 Filing – Great Eastern Energy
GEEnergy Holding Co. LLC, along with its wholly owned operating subsidiary, BBPC LLC (dba Great Eastern Energy), has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-10303). Headquartered in Brooklyn, NY, Great Eastern Energy is a non-utility retailer of electricity and natural gas operating in New York, New Jersey, Massachusetts and Connecticut. The First Day Declaration explains that the Debtors have filed for chapter 11 protection as a result of increased competition and declining margins, and intend to sell substantially all of their assets under section 363 of the Bankruptcy Code. Omni Management Group is the proposed claims and noticing agent. The cases have been assigned to the Honorable Kevin J. Carey.
Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald for more information regarding this matter.
As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.
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