The unsecured creditors on Feb. 22 approved a plan that called for them to receive $300 million in cash and $190 million in notes.

Sun World's creditors and the United States Bankruptcy Court must approve the purchase.

On July 18, its creditors unanimously approved that the company is to be continued.

Chapter 11 stipulates that creditors must approve the payment plan.

If the judge approves the pay package, WorldCom's board and creditors could formally approve the hiring today.

If creditors do not approve the court may make an order as it sees fit.

In September of that year, creditors approved the restructuring plan.

Dynegy said it hoped to hold a vote on August 24, at which time its creditors would approve the bankruptcy plan.

The companies' creditors must approve the plan by Dec. 20.

Last month, the creditors unanimously approved an agreement bringing the property out of bankruptcy.