Exelon Corp. announced on November 7, 2017, that its Texas subsidiary ExGen Texas Power (EGTP) Holdings LLC and ExGen Texas Power LLC filed for Chapter 11 bankruptcy with hopes of reducing debt at the companies.
Exelon Corp has hired a debt restructuring adviser to help evaluate options for its merchant power plant subsidiary ExGen Texas Power LLC. The move comes as merchant power plants such as ExGen Texas Power, which burn fuels such as natural gas to generate electricity and then sell it onto the grid, struggle to cope with massive swings in energy prices. ExGen had approximately $650 million in debt.
EGTP owns two combined-cycle gas plants, two gas-fired steam boilers and one small simple-cycle plant. Inexpensive gas has been pushing coal off the grid in some markets, and wind power in Texas is now having some of the same effect on gas.
Soreide Law Group has had several lawsuits filed on behalf of our clients against broker/dealers due to the recommendation of high-risk energy investments which had been recommended for our low to moderate risk clients. These investments are not suitable for a client who is interested in maintaining a low-risk portfolio with retirement in mind. Often the client has sustained devastating losses to their irreplaceable retirement funds. There are many objectives the broker/dealers need to evaluate before they place a client in a high-risk investment. Dozens of energy-related companies have filed for bankruptcy since 2015 due to the plummeting prices of crude oil.
If your broker/dealer or financial advisor recommended the now bankrupt, ExGen Texas Power (EGTP) Holdings LLC and ExGen Texas Power LLC, call Soreide Law Group for a free consultation with a securities lawyer. Soreide Law Group files cases in all 50 states before FINRA. If Soreide Law Group takes your case they will advance all costs and only get paid if you make a monetary gain. Contact: https://www.securitieslawyer.com or call 888-760-6552.
Soreide Law Group is investigating potential investor claims involving Blue Owl Capital Corporation (NYSE: OBDC), including whether brokers and financial advisors properly explained the risks surrounding this publicly traded business development company and its related private credit platform. OBDC invests primarily in loans to middle-market companies and is often marketed as an income-generating investment. However, […]
Investors potentially experienced sales practice violations by securities broker Mark Perry Kissinger [CRD: 4546631, Frisco, Texas], given the disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Kissinger worked for NYLIFE Securities LLC since November 27, 2018, and Eagle Strategies LLC since March 15, 2023. Read on for a better understanding about the disclosures involving this […]
Investors have reportedly disputed the sales practices of securities broker Robert Steven Wilkinson [CRD: 1180321, Oakland, California], according to publicly available information found on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Wilkinson worked for Western International Securities Inc. from November 26, 2013, to June 5, 2025, and later registered with LPL Financial LLC beginning June 5, […]
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