Centrus Energy Corporation announced this week that it has satisfied all the conditions to emerge from a Chapter 11 bankruptcy. The conditions were outlined in a reorganization plan approved by the U.S. Bankruptcy Court for the District of Delaware on September 5.
The plan became effective Tuesday, and Centrus, formerly known as USEC Incorporated, emerged from the restructuring in a “stronger position to supply customers with nuclear fuel and support the energy and national security needs of the United States,” a press release said.
Centrus stock was expected to begin trading on the New York Stock Exchange on Tuesday under the ticker symbol LEU.
“Throughout the restructuring process that began March 5, 2014, the company has continued to meet all of its obligations to customers and vendors and will not require external exit financing upon emergence,” the release said. The company had maintained its NYSE listing throughout the Chapter 11 process. [Read more...]