Objections by Icahn Associates Corp. and Franklin Mutual Series to an out-of-court reorganization of Teco Panda forced lenders to pursue a Chapter 11 restructuring for the power-plants. Teco had proposed an out-of-court restructuring but required 100% approval from its 40 member syndicate [Teco Panda restructured into Entegra Group and the creditors are considering restructuring the debt into equity.]
One Year Ago In The Credit Markets
