An exterior view of the Burgess BioPower plant in Berlin.

An exterior view of the Burgess BioPower plant in Berlin. (LISA D. CONNELL PHOTO)

BERLIN — Sixteen months after Burgess BioPower filed for Chapter 11 bankruptcy, U.S. Bankruptcy Judge Laurie Selber Silverstein has approved a reorganization plan that allows the 75-watt biomass plant to exit bankruptcy.

The amended reorganization plan has the senior lenders swapping debt for equity, with the lenders holding claims worth approximately $145 million. General unsecured creditors will see no recovery of funds.

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.