A slow recovery

Oil

A recent ruling has provided hope for troubled energy merchants the US. Thebankruptcy court for the northern district of Texas in Fort Worth granted energymerchant Mirant $500 million in debtor-in-possession financing in October. Thecompany had asked the court to approve the financing, which will be providedthrough a loan from General Electric Capital Corp, to supplement its availablecash to fund its merchant trading operations.

Mirant, which filed for bankruptcy on July 14, said that if it

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