The court confirmed the Operating Debtors' joint liquidation plan, moving Dynegy Northeast Generation, Hudson Power, Dynegy Danskammer, and Dynegy Roseton from the sale and settlement phase into estate wind-down. The order follows Dynegy Holdings' November 7, 2011 Chapter 11 filing, where the power-generation debtors operated as debtors in possession and sought to restructure roughly $3.37 billion of senior-note-driven unsecured debt, with holders of about $1.4 billion of senior notes backing the initial restructuring support agreement source filing source filing.

The confirmed liquidation plan substantively consolidates the Operating Debtors into DNE, appoints Dynegy as plan administrator, rejects remaining executory contracts and unexpired leases not otherwise assumed or assigned, and channels proceeds from the Danskammer and Roseton facilities through a waterfall that includes a $500,000 general unsecured creditor carveout. This is the operating-asset cleanup step after the September 2012 confirmation of the broader Dynegy Holdings/Dynegy Inc. reorganization and the settlement resolving disputes among the debtors, noteholders, PSEG entities, and lease trustee source filing source filing.