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Bloomington's Hoosier Energy Given Reprieve In Financial Case

Last updated on Wednesday, November 26, 2008

(UNDATED) - A federal judge has agreed to grant a reprieve for Hoosier Energy Rural Electric Cooperative in a tangled financial deal with an insurance company.

The preliminary injunction gives the Bloomington-based utility more time to argue its case and avoid paying $120 million to John Hancock Insurance immediately.

Such a payout could have forced Hoosier Energy and its members to pass along the cost to customers.

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