New Delaware Chapter 11 Filing – New MACH Gen, LLC
New MACH Gen, LLC, along with four subsidiaries and affiliates, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-11368). MACH Gen, headquartered in The Woodlands, Texas, owns and operates three natural gas-fired electricity generating facilities across the United States. According to the First Day Declaration, MACH Gen enters Chapter 11 having solicited votes on its prepackaged plan of reorganization, which provides for the transfer of one of MACH Gen’s facilities, New Harquahala, to its First Lien Lenders in exchange for a reduction of $150 million of outstanding indebtedness. The Disclosure Statement can be found here. MACH Gen seeks to have a combined Disclosure Statement/Confirmation Hearing held on July 19, 2018. Prime Clerk LLC is the proposed claims and noticing agent. The cases have been assigned to the Honorable Mary F. Walrath.
Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald for more information regarding this matter. Please note, however, that Cole Schotz P.C. does not represent the debtors in these cases and cannot respond to questions directed toward the debtors.
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