New Delaware Chapter 11 Filing – New MACH Gen, LLC

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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, 2018Prime 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.

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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