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Mirant bankruptcy is not terminal

Atlanta-based Mirant says its worldwide operations are continuing without interruptionand it will honour all outstanding contracts. The bankruptcy only applies tothe firm’s US and Canadian businesses. Its power generation operationsin the Philippines and the Caribbean remain unaffected.

Analysts say any court proceedings are highly unlikely to liquidate the company’sassets, as those assets – its power plants – only produce value whenthey are operational.

Analysts had been tipping Mirant for

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