Dynegy expects approval of reorganization plan, continues operations

By Sahara Marte

New York, Aug. 3 - Dynegy Inc. expects emergence from its chapter 11 bankruptcy case in the upcoming weeks, Robert Flexon, president and chief executive, said at the company's second earnings conference call.

The objection period deadline is Aug. 24.

"We did not receive any unanticipated claims," added Flexon. "A great majority of the claims that were received fall into the convenience or our equity class under our plan of reorganization or duplicative."

The company is anticipating court approval of its reorganization plan, he said.

It plans to emerge from bankruptcy shortly after confirmation.

Dynegy's next hearing is scheduled on Sept. 5.

Company operations continue in the gas segment and the coal segment.

Dynegy Holdings and four subsidiaries filed for bankruptcy on Nov. 7, 2011 under Chapter 11 case number 11-38111.

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