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PacifiCorp's bid to rescue Kentucky's bankrupt Big Rivers Electric Corp. has come under fire from major creditors and a court-appointed examiner.
Examiner J. Baxter Schilling issued a scathing report three weeks ago accusing the Big Rivers board of conflict of interest and failure to safeguard creditors. Schilling questioned whether the board made the right decision last year when it selected PacifiCorp's bid to manage the troubled utility's coal plants for 25 years.
Unhappy creditors could ask a bankruptcy judge next week to order a new bid process or appoint a trustee to take over day-to-day management of Big Rivers. Either move could jeopardize PacifiCorp's $30.1 million-a-year Big Rivers contract, which would give the Portland utility an entree into the lucrative Midwest and Mid-Atlantic electricity markets.
Despite recent …