- A U.S. bankruptcy judge approves the chapter 11 plan for the U.S. arm of Spain’s Abengoa (ABGB), signed off on the creditor repayment plan over the objections of a utility company and the U.S. Trustee, a government bankruptcy watchdog.
- Portland General Electric (NYSE:POR) had filed a lawsuit over claims Abengoa botched the construction of a $500M power plant.
- Abengoa’s debt restructuring includes a new value chapter 11 plan that allows the existing owners to hold on to equity in the reorganized company.