Longview Power LLC is plowing ahead with plans to fix its power plant and its balance sheet as it prepares to battle contractors over cash, Kirkland & Ellis LLP's Ray Schrock told a bankruptcy judge yesterday, Dow Jones reported. The Aug. 30 bankruptcy petition froze action against Longview involving a fight over who's to blame for the plant's operational troubles. Talks with secured lenders have begun, and the company last week recovered from the latest in the series of unplanned outages that have plagued the operation, Schrock said. Built at a cost of $2 billion, the Longview plant is carrying a $1.2 billion debt load, more than it can service given the issues that have kept it operating at about two-thirds of its capacity.
