Bankruptcy Court Issues Temporary Restraining Order Against Wilson Law Firm in Mirant's Chapter 11 Case

19 October 2005

Mirant (Pink Sheets: MIRKQ - News) announced that on October 17, 2005, the company and William Snyder, the examiner appointed by order of the United States Bankruptcy Court for the Northern District of Texas in Mirant Corporation's pending bankruptcy proceedings, jointly filed a Verified Complaint for Declaratory Judgment and Injunctive Relief in that court against The Wilson Law Firm and certain individuals the firm purports to have as clients.

The complaint seeks to stop The Wilson Law Firm and these individuals from continuing to solicit votes against Mirant Corporation's Second Amended Plan of Reorganization on the basis of statements made through Internet Website and chat room postings. In the complaint, Mirant and Mr. Snyder contend that these statements are misleading, inaccurate and incomplete.

After a hearing, the Court issued a temporary restraining order requiring The Wilson Law Firm and the individual defendants to remove these materials from public access pending further consideration by the Court. The text of the Court's ruling granting the temporary restraining order is as follows:

TEMPORARY RESTRAINING ORDER AND
ORDER SETTING HEARING FOR PRELIMINARY INJUNCTION

On October 17, 2005, the Court heard the Plaintiffs' verified petition and application for temporary restraining order(1). The Court, after examining the pleadings, and concluding a telephone hearing, finds that the Solicitation Materials contained statements which may be material misrepresentations and factual inaccuracies, and that the use of the Solicitation Materials to solicit votes to reject the Second Amended Joint Chapter 11 Plan of Reorganization for Mirant Corporation and its Affiliated Debtors (the "Plan") may violate 11 U.S.C. Section 1125. The Court further finds that, if the temporary restraining order is not entered immediately, the continued publication of the Solicitation Materials could taint the voting process such that the rejecting vote of a class of voting claims or interests cast in reliance on misinformation which may be contained in the Solicitation Materials could have negative consequences for the Debtors or one or more classes of creditors or stockholders, or that votes demonstrated to have been tainted by the Solicitation Materials and therefore not solicited in good faith may or could be designated pursuant to Section 1126(e) of the Bankruptcy Code, and disallowed, hereby inequitably disenfranchising affected creditors or stockholders.

The Court therefore finds that (i) Plaintiffs have demonstrated a reasonable likelihood of succeeding on the merits of their complaint, (ii) the continued publication of the Solicitation Materials could irreparably harm the Debtors, including Mirant Corporation, and could harm the bankruptcy process (and so be contrary to the public interest), (iii) the harm is imminent in light of the fact that the process of soliciting the tabulating votes on the Plan has commenced, (iv) the harm to Debtors and voting creditors and stockholders outweighs any potential harm to Defendants that may arise from the requested relief and (v) the balance of equities between Plaintiffs and Defendants favors entry of the requested relief. It is therefore

ORDERED that the Defendants, individually and jointly, are hereby temporarily enjoined from distributing, publishing or otherwise soliciting votes to accept or reject the Plan based on the Solicitation Materials (including any similar materials) or any of the statements made therein; and it is further

ORDERED that the Wilson Firm shall immediately cease making accessible the Solicitation Materials on the Wilson Website; and it is further

ORDERED that the Defendants shall, within twenty-four hours following the time and date below accompanying the signature of the Court, publish on the Wilson Website a copy of this Order (which Plaintiffs may post on Yahoo! Message Boards), and it is further

ORDERED that the clerk shall issue notice to the Defendants that the hearing on Plaintiffs' application for preliminary injunction is set for hearing on October 25, 2005, at 10:30 a.m. The purpose of the hearing shall be to determine whether this temporary restraining order should be made a preliminary injunction pending a full trial on the merits; and it is further

ORDERED that Bond is not required to be posted by the Plaintiffs pursuant to Fed. R. Bankr. P. 7065.

SIGNED on this 17th day of October, 2005, at 3:45 p.m.

/s/ Honorable Michael Lynn
Honorable Michael Lynn
United States Bankruptcy Judge

(1) All capitalized terms used but not defined herein have the meanings ascribed to them in the Verified Complaint for Declaratory Judgment and Injunctive Relief, Dated October 17, 2005.

Mirant is a competitive energy company that produces and sells electricity in North America, the Caribbean, and the Philippines. Mirant owns or leases more than 18,000 megawatts of electric generating capacity globally. The company operates an asset management and energy marketing organization from its headquarters in Atlanta. For more information, please visit www.mirant.com.