New way for Catalyst Energy customers to recoup money

When the Lehman Brothers collapse pulled a Georgia gas marketer under last fall, state utility regulators and the federal bankruptcy court tried to shield its customers.

That effort apparently fell short.

Now customers of the former Catalyst Energy have a new route to recoup money they believe is owed by the failed marketer.

In cooperation with the Georgia Public Service Commission and the company’s bankruptcy trustee, the court has created a simplified way for customers to file claims against Catalyst.

Catalyst filed for bankruptcy in October, after losing a critical line of credit from a lender that had been exposed to Lehman’s problems. The company’s customers were sold to MX Energy.

Catalyst had a unique niche in Georgia’s gas market. It served immigrants and low-income customers, offering a pre-paid gas plan.

The PSC and bankruptcy court made sure its pre-paid customers got their money back, but other customers weren’t as lucky.

They included levelized billing customers who had paid a premium for their gas in the summer.

Those and other customers who believe they’re owed money have until May 20 to file a claim with Catalyst’s trustee:

Fred Tully of Hays Financial Consulting at 3343 Peachtree Rd. The phone number is 404-442-2485.