Longview Power LLC won court permission yesterday to start polling creditors on a chapter 11 restructuring that swaps more than $1 billion in debt for equity and provides money to fix its troubled plant, Dow Jones Newswires reported yesterday. Bankruptcy Judge Brendan Shannon signed off on voting materials describing the bankruptcy-exit plan at a hearing yesterday. Once creditors cast their ballots, Longview will return to court to seek confirmation of the chapter 11 exit plan. Under the plan, existing lenders have agreed to provide $150 million to fund emergence and repair the plant, which is in West Virginia.
