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Judge: FirstEnergy Bankruptcy Plan Not Quite Ready
By: Associated Press
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AKRON, Ohio (AP) — A judge isn’t quite ready to sign off on a bankruptcy plan outlined by a subsidiary of FirstEnergy Corp. that operates Ohio’s two nuclear plants.
A federal bankruptcy judge in Akron said this week the plan will remain on hold while First Energy Solutions deals with two union labor agreements.
The judge says it’s the last thing standing in the way of his approval.
FirstEnergy Solutions filed for bankruptcy last year and wants to separate from Akron-based FirstEnergy Corp.
Attorneys for unions at one of the Ohio nuclear plants and another in Pennsylvania say the law requires contracts to be settled before the reorganization plan is confirmed.
FirstEnergy Solutions says it wants to exit bankruptcy by the end of this year.