Edison International Unit Declares Bankruptcy

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

Edison International (NYSE: EIX ) unit Edison Mission Energy has filed for Chapter 11 bankruptcy protection, the parent company said in a statement. Edison International said it will subsequently deconsolidate its California-based subsidiary. EME's ownership is to be transferred to its creditors, a move that requires approval by the bankruptcy court.

A website dedicated to the EME restructuring said the reorganization plan will also seek to "retire existing public debt and enhance [EME's] access to liquidity." The goal is for the subsidy to emerge as a recapitalized company independent of Edison International.

The website also characterized EME's operations as "healthy" and said they would continue uninterrupted.

Jeff Fischer and team have demystified options. And they can rack up income like $1,030... $2,626... and $3,228 on a schedule you can set your watch by!
That's why we're glad to announce every single one of their closely guarded strategies is available to YOU during May and June – 100% FREE, no strings attached! Just enter your email address in the box below...

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment icon found on every comment.