Archive for Saturday, September 24, 2005

Entergy New Orleans seeks protection

September 24, 2005


Facing rebuilding costs and a loss of revenue after Hurricane Katrina, the New Orleans-based subsidiary of Entergy Corp. filed for bankruptcy protection Friday.

Entergy New Orleans also said it plans to borrow up to $200 million from its parent corporation to pay wages and benefits, pending court approval, make payments under existing power purchase and gas supply agreements and continue to repair and restore facilities wrecked by Katrina.


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