Energy Future Creditors Seek Stalled Chapter 11 Plan
Reuters reported that Energy Future Holdings’ creditors are urging Judge Christopher Sontchi to slow the company’s Chapter 11 case, cautioning that an approved refinancing proposal could block better deals from consideration.
Reuters said the bankrupt power company’s majority stake in Oncor, a powerlines business, has ignited a “flurry of activity,” comparing creditors’ efforts to get a hold of the unit’s steady cash-flow to a bidding war seen in merger situations.
To read the entire Reuters article, click here.
Previously on abfjournal: Energy Future Said to Revise Loan Backing Restructuring, June 24, 2014