Summary
This 8-K filing by NextEra Energy Inc. (NEE), through its parent FPL Group, Inc., discloses the sale of a note receivable from a limited partnership, which is related to Olympus Communications, L.P. (Olympus). Olympus, an indirect subsidiary of Adelphia Communications Corp. (Adelphia), along with Adelphia and the limited partnership, filed for Chapter 11 bankruptcy protection in June 2002. The note, originally due in July 2002, was in default due to these bankruptcy proceedings.
Key Highlights
- 1Disclosure of the sale of a defaulted note receivable.
- 2The note is from a limited partnership where Olympus Communications, L.P. is a general partner.
- 3Olympus Communications, L.P. is an indirect subsidiary of Adelphia Communications Corp.
- 4Adelphia, Olympus, and the limited partnership filed for Chapter 11 bankruptcy protection in June 2002.
- 5The note receivable was sold for its net book value of approximately $127 million.
- 6The sale price includes accrued interest up to the bankruptcy filing date, net of insignificant transaction costs.