Mirant restructuring anger



US energy trading company Mirant faced the wrath of investors last month when a group of bondholders filed a lawsuit in an effort to block the company’s debt restructuring plans.

The California Public Employee Retirement System-led group claimed their rights as bondholders were and would be violated by Mirant’s offer to exchange up to $1.45 billion of unsecured bonds with maturities between 2004 and 2008 for new secured notes due in 2008.

The group has exposure to $300 million of

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