April 28, 2004
Federal judge approves a debt-for-equity swap for Willkie client National Energy & Gas Transmission Inc. under a pre-negotiated, third-amended reorganization plan.
On April 28, a federal judge in the District of Maryland approved a debt-for-equity swap for Willkie client National Energy & Gas Transmission Inc. under a pre-negotiated, third-amended reorganization plan. Willkie partner Matthew Feldman, who is noted as debtor counsel in the April 28 edition of The Daily Deal, told the publication that the plan turns full ownership over to unsecured creditors, calling for creditors to swap approximately $3.8 billion in debt for all the common stock.