Daily News: June 2, 2014

Energy Future Creditors Protest Financing Framework

The Wall Street Journal reported that Energy Future Holdings is meeting strong headwinds as it attempts to put the financial framework in place for a $42 billion bankruptcy restructuring.

According to the Journal, objections are piling up from creditors that say the Texas power seller is planning to throw away hundreds of millions of dollars to push through a balance-sheet revamp engineered by lawyers and advisers who rang up $130 million in fees before Energy Future even filed for Chapter 11 protection.

The Journal said the bankruptcy-loan deals are the product of months of negotiations with creditors that support Energy Future’s balance-sheet reshaping.

To read the entire WSJ article, click here.

Previously on abfjournal: Energy Future Postpones Hearing on Restructuring Agreement, May 23, 2014