O’Melveny Worldwide

Law360: Brazos Gets Nod On Ch. 11 Plan Docs With ERCOT Deal

September 13, 2022

Brazos Electric Power Cooperative Inc. received conditional approval for a Chapter 11 plan disclosure statement which includes a deal with the Electric Reliability Council of Texas (ERCOT) and a sale of its power generation assets. “In my mind, the disclosure statement strikes a very nice balance,” US Bankruptcy Judge David R. Jones said. The co-op filed for bankruptcy after receiving a US$2.2 billion bill from ERCOT following Winter Storm Uri in February 2021. Brazos will reorganize as a transmission cooperative and cease all generation activities per the terms of the plan. A final hearing is scheduled for November 14. Brazos Electric Power Cooperative Inc. is represented by Louis R. Strubeck Jr. and Nick Hendrix of O’Melveny & Myers LLP.

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