GenOn, NRG Chalk Point, county agree to settle deed recording dispute

By Caroline Salls

Pittsburgh, Nov. 16 – GenOn Energy, Inc. entered into a stipulation with NRG Chalk Point LLC and Prince George’s County, Md., that resolves a dispute over the delivery of a recorded deed for GenOn Mid-Atlantic, LLC’s (GenMa) Chalk Point power plant, according to a Thursday filing with the U.S. Bankruptcy Court for the Southern District of Texas.

As previously reported, GenOn’s motion for enforcement of a settlement that is a key component of its confirmed plan of reorganization was granted by the court on Nov. 9.

GenOn said the settlement obligates GenMa to deliver a recorded deed for its Chalk Point power plant, but the county and the Maryland Department of Taxation are refusing to record the deed unless GenMa pays $6.7 million in stamp taxes.

Under the stipulation filed on Thursday, the county will accept the deed of trust for recording with the Land Records of the County and/or any other applicable agency when it is presented by NRG Chalk Point.

NRG Chalk Point has agreed to pay $1.05 million to the county upon recording of the deed of trust.

GenOn, a Princeton, N.J.-based power producer, filed for bankruptcy on June 14, 2017. The Chapter 11 case number is 17-33695.

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