Morris Nichols Successfully Advises Global Infrastructure Partners, FORTISTAR in Section 363 Acquisition

September 2008

Wilmington, DE – September 18, 2008 – Morris Nichols’ Business Reorganization and Restructuring Group successfully advised Global Infrastructure Partners and FORTISTAR in obtaining court approval of the purchase of a cogeneration power plant for $500 million plus certain adjustments under Section 363 of the Bankruptcy Code in the Reliant Energy Channelview LP bankruptcy case.  The facility is a nominal 830-megawatt, natural gas-fired power plant located in Channelview, Texas.

Morris Nichols’ representation involved, among other things, the successful objection to anti-competitive bid protections favoring a competing bidder, a contested auction, and protracted negotiations over the terms of an asset purchase agreement.