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- Debt would be reduced by more than $5 billion - Mirant Americas Generation would receive a full recovery - All assets and operations would remain intact ATLANTA, Jan. 19 /PRNewswire-FirstCall/ -- Mirant (OTC Pink Sheets: MIRKQ - News) today filed its proposed Plan of Reorganization (the "Plan") and Disclosure Statement, putting into motion a process intended to allow the company to emerge from Chapter 11 protection by mid-year. The documents were filed in the U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth division, where the Honorable D. Michael Lynn is presiding over the case. The Plan...

FORT WORTH, Texas — Bankrupt Atlanta-based energy company Mirant Corp. can have an additional eight months before filing its reorganization plan with the bankruptcy court, a judge here ruled Wednesday. In the course of arguing over the extension, though, a Mirant consultant delivered some bad news for stockholders: There will be no money left for them unless something changes before the case is done. When Mirant entered Chapter 11 last year, it looked as if there would be something left for shareholders once creditors got paid. The blow to shareholders came during questioning by U.S. Bankruptcy Court Judge Michael Lynn...

Mirant Equity Committee by Micheal Sammons – Attorney Previously on Mirant Shareholders Committee Click here for link to Yahoo message. For those who asked, I was also booted off the committee - around December 1st. Like Matt Wilson, I was vocal about the need to explore all options other than dilution. My problem was with the Brown Rudnick law firm and Tejas Securities [SHC (Shareholders Committee) co-chair]. Even before our selection I had argued with Tejas about what they believed to be "inevitable dilution." And this was before a committee was even formed (the informal committee days). While I cannot...