A bankruptcy court yesterday approved milestone filings from FirstEnergy Solutions Inc., moving the Akron company significantly closer to receiving approval for its chapter 11 reorganization, the Akron (Ohio) Beacon Journal reported. Yesterday’s rulings mean the FirstEnergy Solutions reorganization plan can be put to a vote by the company’s creditors this summer. Then, if creditors approve, the plan goes back to bankruptcy court in August for the judge’s formal ruling, which could lead to the company legally separating from FirstEnergy Corp. and striking out as an independent electric generation business — likely with a new name. Any approved plan will also need regulatory approvals. Bankruptcy Court Judge Alan Koschik approved FirstEnergy Solutions amended disclosure statement. This was the fifth disclosure document filed with the court since FirstEnergy Solutions filed for Chapter 11 bankruptcy protection on March 31, 2018. Attorney Brad Kahn, representing FirstEnergy Solutions, told the judge that the latest document resolved objections raised by other parties in the case.
