Houston Federal Court Ends Long-running Fight between GenOn and Bank

A federal district court in Houston has followed the recommendation of U.S. Bankruptcy Judge David Jones to dismiss all remaining litigation between French bank Natixis Funding Corp. and GenOn Mid-Atlantic over a $130 million credit arrangement gone south for two coal-fired power plants in Maryland.

After a hearing held last Tuesday before U.S. District Judge Keith Ellison, the judge denied objections made by the plaintiff, Natixis, regarding Judge Jones’ report and recommendation from June, which suggested tossing out $75 million in claims that Natxis sought in the litigation.