Uranium Producer USEC Can Seek Creditor Vote on Exit Plan

USEC Inc., a producer of enriched uranium for nuclear power plants that was sold by the U.S. government in 1998, won bankruptcy court approval to seek creditor votes on a plan to hand control to noteholders.

U.S. Bankruptcy Judge Christopher Sontchi today approved the disclosure statement explaining the recovery plan, calling the outline “very thorough, well done and precise.” No objections were filed, D.J. Baker, an attorney for USEC, told the judge at a hearing in Wilmington, Delaware.